This article is about the economic growth of the US recently. There is an increase of 800,000 job openings since January of 2014. This growth of jobs is causing a growth of income and is the driving force behind a growth in consumer spending, which then creates more job growth. It is a cycle that the people of the US get excited about. Due to the vast amount of job available, according to the data people seem to be happy at their job because they aren't worried about trying to find another one. Due to this fact the quit rate, meaning people who voluntarily left their job, has stayed at 1.8% for the past six months.
Janet Yellen of the Federal Reserve wants to remind people that even though this improvement in the economy looks good, the market still has not fully recovered. it is predicted that August's numbers will continue to improve, businesses will feel more better about hiring people and the job market will continue to grow.
It will be interesting to see when the Federal Reserve decides to end its economic stimulus program, a five-year-old plan designed to keep the economy afloat following the 2008 recession. Janet Yellen has said that she plans to wind down the program when the economy shows signs that it is strong enough to sustain positive growth on its own. I am interested in knowing just how the Federal Reserve determines this. Is it through looking at the unemployment rate alone or considering other factors as well? Regardless, it is nice to see such an encouraging article that looks at the current economic situation in a positive light.
ReplyDeleteAugust's numbers were significantly weaker than expected. Only 142,000 jobs were added in August, much less than the 225,000 that economists were predicting. The August numbers are the smallest monthly gain of 2014. Thus, I wonder if the trend this article describes will in fact continue.
ReplyDeleteThe ending of the economic stimulus program by the Federal Reserve in my opinion will have a negative impact on the economy in respect to economic growth in the country. Though it is pleasant to see economic growth and an increase in job openings my only fear is that this might be temporary and short-lived.
ReplyDeleteIt's great to see an article about the US economy that is actually positive. However I don't know if this trend will continue with more jobs being created since we missed the predicted amount in August by 83,000. Might as well soak it in now.
ReplyDeleteThe US economy is finally growing and getting back on pace to where we should be. This will increase income and the unemployment rate should drop assuming these jobs are occupied with workers in the next year. People should start feeling comfortable and not worried about the economy much more in terms of it falling again anytime soon.
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