More Than 304000 Jobs Were Added In January, And Government Shutdown Increased Unemployment Rate To 4 Percent

More Than 304000 Jobs Were Added In January, And Government Shutdown Increased Unemployment Rate To 4 Percent

Business

Currently in the USA problem of unemployment is a topic of discussion and even argument also because from last few days many analysts and economists were predicting that Trump’s decision of government shutdown will negatively affect on employment. However, only a half of such prediction came true because country added more than 304000 jobs in January alone. Currently unemployment is one of the biggest obstacles country is facing; however, it seems like many private employers are contributing to the economy by making vast amounts of employment to ordinary people. A group of analysts predicted that there would be an addition of only 223000 jobs in January, but government and private sectors have beaten everyone’s expectations. On the other hand, unemployment which was low from last few months got increased to 4 percent because of Trump’s decision of government shutdown.

Some economists predicted that the unemployment rate would not be changed and it will stand at only 3.9% also country will add more than 170000 new jobs. It seems like half of such economist prediction has come true because state managed to add more than what’s expected some jobs for January, but it failed to controlled unemployment rate. There are some sectors which produced a huge number of new jobs for ordinary peoples, and those are manufacturing, health, retail, and construction. In a country which has so many unemployed people, it becomes necessary for government to promote those sectors which would create a massive amount of jobs. Manufacturing and healthcare industry is that type of businesses which can give a right amount of employment if it’s been tightly controlled by private companies and government also.

However, growth of wage rate remained same for last month and workers did not get any type of significant raise in their hourly wage rate because of the federal shutdown situation.

Leave a Reply

Your email address will not be published. Required fields are marked *