Economists say that the US economy is quickly approaching full employment after a decade of slow growth.
Moody’s Analytics states that a 4.4% unemployment is great news for employees and wages. Lower unemployment creates competitive pressures for the companies and wages increase.
Economists also agree that this economic recovery has been frustratingly slow, it has taken over a decade to get back to the unemployment figures that were ones considered normal. The slow recovery was also a factor in the 2016’s Presidential elections where a large percentage were looking for a change.
Numbers still show that part-time employees looking for increased hours are still high, experts believe that this is due to Obamacare, which has resulted in small business owners utilizing part time workers to avoid having to carry health care mandate. Poll conducted by Gallup Good Jobs report showed only 44.4 percent of the country had what Gallup considers a good job in February. And although the report comes with a few caveats – the rate doesn’t account for the self-employed, for example. It’s worth noting that February’s 44.4 percent rate is a solid improvement from the 42.5 percent tally Gallup recorded when it began tracking the data back in January 2010.
Experts also point to a growing problem with finding “skilled talent”, this has been a issue highlighted by a wide variety of industries including Automotive, Healthcare to name a few. They site the record number of job openings as the evidence for lack of skilled labor.
New administrations view immigration policies may end up causing a head wind for the economic growth.
The author, KetanDeshpande, lives in Minnesota and writes about a variety of topics in his blog such as global economy, market and industry trends, successful strategies for businesses, and others. Leveraging his global strategic leadership experience from the manufacturing industry to offer insights in to how businesses can meet the sustainable growth and profitability goals.
Ketan Deshpande is also passionate about sustainability and renewable energy; he curates and shares latest updates in his blog posts. Recently the Southern Minnesota Municipal Power Agency(SMMPA) of Litchfield, Minnesota, endorsed Ketan Deshpande for an energy conservation project.
This blog also features memorable events, travel experiences and his favorite places to visit in the great state of Minnesota.
Blog by Ketan Sharad Deshpande, Anoka county, Minnesota, MN