Essay on Employment Situation in the United States

Employment Situation. An article was done by Bloomberg on the 7th of April giving the state of employment reports that unemployment makes the job seeking agencies be filled with those that find work. The situation forces businesses to give in and increase the wages they pay so as to maintain high-quality labor force. Economic analysts also contest that a decreasing employment rate does not directly translate to weakening in the talent levels of the employees. However, it could be an impact caused by increased supply of graduates who are seeking to be employed with no effort to create more jobs. The Bloomberg report indicated that February had an increase of 235,000 while the estimates for March were set at 100,000-267,000(2017).

Is your time best spent reading someone else’s essay? Get a 100% original essay FROM A CERTIFIED WRITER!

Order now

In March, the payroll dropped to a record low for the last decade. However, the rate started picking immediately after. 98,000 jobs were recorded to have increased which counted for 4.5 percent increase. This rate was a drop from the previous 4.7 percent that had been registered in the last month of February. It is not only the employment rate that dropped the wage also decreases at 2.7 percent over the years. An increase in the interest rates by the Federal Reserve gave an indication that despite the fact that the situation was on a downward trend there is a chance that they are going to get better with their prediction.

The United States had the elections which have been attributed to the economic changes that are facing the country. However, some of the contributing factors are not solely due to politics. The president promised to enforce the creation of 25 million jobs during his term. In relation to the current number of employment available, it translates to 208,000 vacancies per month. In the first two months of the administration of president Trump the federal employment dropped by one thousand due to the stop in hiring by agencies unless for national security. The article further states that a meeting that was held by the feds indicates that the economy is almost at the maximum although the exact extent is not yet well defined. 63 percent of the workforce is within the working age and dropped to 62.4 percent and has remained stagnant since 2015 which is a record low since the 1970s.

Constructions jobs have been reported to have a downward trend this month of April. The decrease is related to the climatic changes that have taken place. The rate of the industry slowed significantly from 26,000 to just 6,000 in March. For example, the month of February was unusually warm and coming months are difficult to forecast due to the effects of climate change. However, an hourly wage increase of 0.2 percent has been witnessed in March with workweek remaining constant at 34.3 hours. Contrary to the construction industry the manufacturing sector had March as one of the best since the year 2011.

Bloomberg also says that the main payroll contributors are professionals and business service delivery sectors with 56,000 jobs. Retailers are the most affected by the slowed trend as they have witnessed the closure of many stores which have led to 30,000 jobs loses. The delayed business is attributed to the structural changes in the way Americans do their business in the recent years. Online businesses have taken over and many people prefer to order through the sources on e-market rather than walk to stores.