Great (And Bad) News For US Economy As Of October 2017

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BREAKING: 23 Minutes ago, the New York Times released the official jobs report from the Labor Market. It was a relatively good month for US jobs, adding 261,000 jobs to the market while pushing the unemployment rate down to a historic low of 4.1%.

But these are historic figures! Why do I only say "relatively good"?

Well, it turns out that there are a few major points. The main one here, though, is wages. Wages have never been good in the US economy, and the latest signs show that it's not starting now. In October, wages fell by an average of 1 cent, to decrease the growth to 2.4%. A lot of economists say that they want the US to have at least 3% growth, and that has not been achieved in a long time.

Also, while 261,000 is a GREAT (and I mean it GREAT) number for any regular month, this isn't just any regular month. This was the month where Hurricanes Harvey, Irma, and Maria devastated homes and tore down workplaces, and we were naturally expecting a bounceback. 

For now, the main takeaway:
Jobs: Good
Wages: Not so good

I hope you enjoyed this article!

-Michael Yang

Comments

  1. David NuJuly 19, 2018 at 6:04 AM

    Recently i read trump news about his different policies for economy that i think definitely going to help his nation in near future. Thanks for sharing this post with readers.

    ReplyDelete
  2. cdianeOctober 10, 2018 at 5:06 AM

    vxvxv

    ReplyDelete

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