Sunday, October 9, 2016

U.S. Economy, Showing Resilience, Added 156,000 Jobs Last Month

A recent topic that remains popular amongst the U.S, especially in the presidential debates has been about our economy and how it is struggling. However, this doesn't seem to be the case, according to the Labor Department, 156,000 jobs were added during the month of September. An increase in discouraged workers has had people feeling nervous about our economic growth, along with the endless increase of workers entering our labor force. However, this new increase in jobs last month is believed to help the workers newly in the labor force and also encourage discouraged workers to find jobs. Furthermore, over the past 12 months the wage gain has increased by 2.6%, begging the question whether or not the economy should actually be a growing concern. The Federal Reserve has shown no alarm for future inflation, and the unemployment rate is expected to drop to as low as 4 percent come 2018. With a steady increase in jobs each month, and more and more workers joining the labor force, there seems to be little to no real concern for the future, so it is strange that this has been such a heavy topic for people and for the presidential campaign. With the amount of jobs being added each month, the natural unemployment rate should decrease, especially since the increase in jobs is also bringing discouraged workers back into the labor force. Donald Trump continues to criticize our economy and Hilary Clinton's plan, emphasizing on the millions of economically sidelined Americans. While there will always be concern and fear revolving around the economy in the US, results show slight decreases in the unemployment rate, and continued increase, so while many people including Republican presidential nominee Donald Trump continue to raise concern over our current and future economy, it appears to be over exaggerated.

3 comments:

  1. I find this very relatable to my piece because it is because of September that put Obama's economy over 15 million jobs created. This is a big topic in the debate that has been going on and I agree with that Donald Trump is over exaggerating what is going on.

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  2. I would be interested to know what areas in which the jobs were created, and what related fields may also be affected by the recent job creations, so that there may be an expanded need for jobs in the future.

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  3. I'm curious to know how these jobs were created. I could be wrong about how this works, but does job creation directly lower unemployment? I would imagine that unemployment is only affected when these positions are filled. Since the unemployment rate is about the rate of job separation and job finding it makes sense that job creation affects rate of job finding which would then lower the unemployment rate. Also it'd be interesting to know how fast the labor force is growing because it could be growing so fast that these 156,000 jobs created doesn't actually change the formula for unemployment rate at all.

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