The job industry has seen a sharp increase in numbers over the last 6 months. Trump’s Presidency has seen employment rise significantly.
This is wonderful news for the Trump Administration. It is also good news for the 1 million plus persons who have been employed.
In July alone 209,000 jobs were added, the unemployment rate dropped by 4.3%. These numbers matched an all time low in 2001. In 2009 unemployment was at 10%.
The increase in jobs has certainly helped the economy. More jobs mean more money circulating in the Country.
Cathy Barrera said “the economy is looking pretty good.” Barrera is the Chief Economic Adviser at ZipRecruiter.
Steve Rick said “there are still lots of people coming back into the labor force, looking for jobs.” Rick is the Chief Economist at CUNA Mutual.
The trend is a good one, since more growth can be expected. As more people are employed the economy will continue to grow.
Rick believes that the economy can grow even more. He thinks the new immigration law will help make that possible.
He said “It would definitely slow economic growth if you slow the number of people coming in.” Others economists disagree, they believe less workers mean less growth.
It was estimated that 27 million foreigners worked in America during 2016.
Economy Looking Positive
Trump’s plan is to increase the current economic growth from 2% to 3%. Any growth would be great for the economy.
July saw more Americans working and searching for work. It is believed as the wage rates increase and unemployment remains low that more people will search for work.
July reports indicated that about 53,000 people were employed at bars. The health sector added about 39,000 jobs. The manufacturing Sector employed about 16,000 workers.
Increases were seen in the mining and business sectors as well. These numbers speak for themselves about how well the job sector is doing.
Chris Gaffney who is the President of Everbank World Markets talked about wage increases. He said “There are still questions about when we’re going to see that spike.”
He asked “are we going to see more wage increases for U.S. workers?”
Wage growth rose by 2.5% for July. A comparison was made between July and the previous year. 3.5% in growth is the number the Federal Reserve is hoping for.
July has been reported as the 82nd continual Month of job growth. This is a good trend, it shows a consistency of job growth.
Since job growth means economy growth, the economy will only improve.
Some Economist believes the Country is soon at full employment. All looks well for the economy and all looks good for the employment sector.