Employment Of The Us Employment Essay

1680 Words Oct 29th, 2016 7 Pages
Employment in the US The US employment rose by about 255,000 jobs last July, which was more than expected since the June before that also brought in a good amount of 292,000 jobs. The average wages also raised during this period. These good news mean a faster economic growth, which in turn means a higher chance that the Federal Reserve raises the interest rate this year. While the total employment did raise more than expected, the overall unemployment rate of 4.9 percent held steadily as the people entered the job market. This can be explained by the discouraged people who want to work but have given up on finding jobs, and also those who are working part-time because they can’t find a full-time job. There was a one-tenth of a percentage raise in that rate for that month, which puts it at 9.7 percent. The job sectors that had the most new jobs were professional and business services, especially computer systems related jobs like: leisure, hospitality and health care. Construction also had a good amount of new workers. The job sector that lost the most jobs is mining. This can be explained by the big fall in prices in crude oil. I believe that if the price of crude oil goes up in the recent time, the job sector will start blooming again. If that happened with the addition of already growing of other sectors, then economic growth can raise even faster. The economy needs about 100,000 new jobs a month to keep up with the population growth, and if we are getting more than…

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