Last Friday the government released that the unemployment rate in the Washington D.C. area has soared to 6.9%. This is the area’s highest rate in the 20 years of record keeping. The January data showed that long-term unemployment saw signs of economic recovery and reentered the labor force. But many job losses continued to grow in such sectors as construction, retail and financial markets.
During the process of searching articles, I find job is always a concern topic. There are numerical reports discussed the situation of labor market, and some of them are optimistic, and some of them are pessimistic. Admittedly, the unemployment rate 6.9% of Washington this month is dismay. However, in my opinion, it might be better analyze the situation of job market from a longer period’s data.
ReplyDelete46,900 jobs were lost during the 12-month period. According to the Bureau of Labor Statistics data, the big losers were construction, state and local government, financial services, and business services. Despite the losses, thousands of unemployed people returned to the labor market to look for jobs.
ReplyDelete