https://www.nytimes.com/2018/12/07/business/economy/jobs-report.html
On December 7th, 2018, the Labor Department released its monthly hiring and unemployment figures for November. 155,000 jobs were added in the month of November. Economists were expected a gain of 190,000 but were off about 35,000 give or take a few jobs. The monthly average for September, October and November was 170,000. With more jobs, the unemployment continues to drop shown in the graph below.
For the 98th month (about 8 years) in a row, employers increased payrolls, and monthly job gains are still averaging above 200,000 this year alone. Yearly wage growth remained at 3.1 percent for the second month in a row, a level not seen since the recession. But the report is unlikely to discourage policymakers at the Federal Reserve from raising benchmark interest rates when they meet on Dec. 18 and 19. But unfortunately good news always comes with bad news, General Motors said last month in a statement that they would idle five plants and cut close to nearly upto 14,000 jobs in the United States because of a slowdown in auto sales. In the meantime, the labor market is mostly thriving. The unemployment rate and jobless benefits are at or near record lows. The average monthly increase in payrolls this year is more than enough to keep the jobless rate below 4 percent.
Do you have a job? If you are old enough, are you looking for a job? How do you feel that unemployment is continue going down? Do you think unemployment will continue going down, or will it go back up?
(Feel free to check your state or surrounding states unemployment rates! Link is:
https://www.bls.gov/)
I do not have a job. I am not currently looking for a job either. I think it is good that unemployment is going down. I think it will continue to go down until it gets down to a certain low where it just idles; however, with increasing wages in states, many people might be fired and lead to a raise in unemployment.
ReplyDeleteI do not have a full time job, and I am not currently searching for a job. I am glad the wages continue to rise during Trump's presidency. It shows that there doesn't have to be a higher minimum wage in order to raise wages. I believe unemployment will eventually stop falling and it will fluctuate at a low percent.
ReplyDeleteI have a part time job at CV's Family Foods. I am glad that Mr. Trump is staying true to his word of getting the American people jobs. At this rate, I believe that unemployment will hit an all time low in our country.
ReplyDeleteThough I would generally consider lowering unemployment rates to be a good thing, I have no idea how Trump is making this happen. Could anyone (or any news organization) actually explain how presidents impact unemployment rates and other nationwide statistics? Either way, whatever Trump's doing (assuming he's the one causing this) seems to be working, but the lowering may slow down or stop when a different president takes office if he/she does things differently. I just don't know how any of this works (and I don't know of anyone who does), so there's only so much I can comment on this issue.
ReplyDeleteI work for OAYO so that is a part time job. I do like to see that unemployment is going down.
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ReplyDeleteLike Elizabeth, I also work for OAYO part time. I think it is great that unemployment is low. However, I think that the increase in minimum wage is going to cause a lot of employers to cut down on the number of employees they have.
ReplyDeleteI have a part time job at McDonald's. I like that unemployment is going down. I fear, though, that within the state unemployment will go up by 2020 because of the increase of minimum wage.
ReplyDeleteI don’t have a job and I’m not really looking for one either. I don’t know if unemployment will go up or down I’m the future. Sadly unemployment is something that is unpredictable.
ReplyDeleteI do not have a job, nor am I looking for one. I'm pleased to know that unemployment is going down, as it gives opportunities to those who want or need them. I think, overtime, unemployment will inevitably go back up due to the increase of minimum wage and employers letting go of some of their employees.
ReplyDeleteNo, I do not have a job. I am not currently looking for a job. I like to see that unemployment is going down, however, I think that it will go back up. It just seems impossible that it will continue to go down. It will eventually go back up.
ReplyDeleteSadly I don't have a job :( Although I think its great that our unemployment is going down,i think Kalli has a great point when saying that the increase in minimum wage will cause employees to be cut.
ReplyDeleteI do not have a job nor am I looking for one. I am curious as to how both unemployment is at a low and wages are increasing (ex. Arkansas voting to raise minimum wage). Obviously unemployment rates decreasing is a great thing. I think that unemployment rates will begin increasing again in the near future. I would be pleasantly surprised if the U.S. was able to maintain these levels.
ReplyDeleteI don't have a job and am not currently looking for one. I think its great that unemployment is going down, but the increased minimum wage could cause companies to cut down on their employees. I also think that unemployment will go back but I hope that the rates stay.
ReplyDeleteI have a part-time job at a local flower shop; I am looking for another job to get some more hours. I would like to work at Walmart, I think, because the hourly wage starts at $11. It would also be interesting for me to see what work looks like inside a huge corporation. I agree with Madison about the unemployment rates - while I voted for the increase in minimum wage myself, I can certainly see businesses weaseling around little loopholes to end up paying people the same or just laying some people off.
ReplyDeleteI am glad that the unemployment rate is continuing to decrease. I believe that it will continue to decrease and hopefully we will have one of the smallest unemployment rates in the world.
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