America’s job market rebounded in April.
US unemployment rate 4.4%, the lowest in 10 years.
In April United States added 211,000 jobs beating the previous month record where the America gained 79,000 jobs. The figure released by Labor Department.
The chief investment strategies at State Street Global Advisor says it’s a very solid report. And it is near to full employment in the United States economy.
These figures are enormous after the Great Recession ended in 2009. At that time the unemployment rate reached to 10%. In current situation employer need to pay more to hire the someone, as we know this is the nearest to the full employment rate and it may not go down, many economist says. Now there is full employment the wage rate will increase.
In April there are 2.5% increase in wage growth if we compare it with last year. But the Federal Reserve would like to see a growth near or closer to 3.5%.
Wages grew 2.5% in April compared to a year ago, which is better than in prior years but not considered robust yet — the Federal Reserve would like to see wage growth closer to 3.5%.
The Unites States created 522,000 jobs since the President Trump took office and during this tenure, it’s the third time the job report is being published.
Obviously Trump and Administration is taking credit for this boom in job market and decreasing the unemployment rate to 4.4%.
If we try to look into where the jobs is being created then we have to know that the Health Care added 20,000 new positions, jobs in restaurants and hotel bring 55,000 worker and in the business service industry there are 39,000 opportunities being created. These numbers are very impressive, the job not just opened up in these department even we can see a slight rise in construction, mining and manufacturing.
This report shows that there is a progress. The US underemployment that also include those who worked as part time in jobs also hits the lower mark in decade. In 2010 it was 17% and now it hits 8.6%.
Luke Tilley the chief economist at Wilmington Trust says there’s been stagy improvement there. It’s a solid labor market right now, he added.But as for the growth the Expert also raised some concern like there are like Americans aged 25 and 54 remains out of the work for some different reasons. Part time jobs have declined but still there are 5.3 million people who are doing part time jobs that they don’t want to.
In 100 days of Trump presidency these stats are very important in order to calm the situation because we have seen the rallies against him and all the hate but in the end if you done something good for the public then ultimately you will earn respect. Respect is not a one way process it’s a two way process. Give respect to earn it.