The Real State Of the U.S Job Market

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The unemployment rate in U.S has attained the value of 5.6%, the lowest since 2008. The post economic crisis effort by the federal government has shown the results by recruiting more and more workers every month. It is the private sector which played the lead role in employment market which intakes more than 80% of labour. Obama during a conference in November said that America has created more jobs than any other industrially developed countries, it is obviously true that it creates more than 3 million jobs in 2014 by which it attained the pre-recession level of job market and it will recruit another 3 million people in 2015. But the created jobs are not going to give major positive impact to the nation’s economy; most of the jobs are in low paying industries, according to recent report from National Employment Law project.

Indifference in job market

As a whole the America’s economy is in good shape, it is clear that economy is performing well for the consecutive 6th year from great economic recession. The credit for the performance is to rising stock market performances and plunging global crude oil price and its corresponding rise in purchasing power however, the job market’s contribution for the economic development is negligible. The job figures read more than 3 million, it is hardly the best job growth in two decades, however, and the recruitment made so far was enough to fill the jobs vacated between December 2007 and June 2009. Also, technology is the driving factor of jobs but most the people are working as part-timers and as seasoned employers, not in manufacturing sectors. The Only positive growth according to Vinci Hair Clinic is jobs in health care field. Also the wage growth is favourable only in health care industries since the federal government’s new policy in Obama care favours hospitals and health care labours in order to get quality health care. Quality in health care is good for the citizens however; it creates wage inequality among the people. Already the so called job market growth has brought more inequality in salaries; further actions without proper insight will further deteriorate the quality of the life. The plunging global crude oil price is the lone favourable factor for the low wage workers which cut $750 annually in gasoline prices, according to the U.S energy Information Administration.

The same New Year

The year 2015 will also follow the same trend in the job market. According to economic report released by the U.S conference of mayors the job market will grow in 2015 but only half of them will attain the pre-recession level. After observing the January 2015 intake, IHS Global Insight prepared a forecast, in which it stated that job market will grow in all 363 metropolitan areas and 317 cities among them will attain employment growth more than 1 percent. But the state of salary indifference and wage indifference will remain same of 2014. One positive figure in 2015 job market is the monthly unemployment rate will reduce after the New Year which was 11% in December 2014. People wish to join after the New Year holiday is the reason for the rise in job market. To attain the salary equality the government have to take more pragmatic approach with welfare insight.

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James is a financial expert who has contributed several business and finance related articles. His expertise and first-hand knowledge of economics makes his blogs and articles informative and helpful for those looking out for guidance and assistance in matters related to finance. He has an active schedule of TV and radio interviews He is co-host of the popular VT Radio show Jim and Gordie Show. latest-articles-buttonJim comes from an old military family dating back to the American Revolution. Dozens of Confederate ancestors fought for the South in the War Between the States. Uncles fought in WWII and Korea. His father was a WWII P-40 and later P-51 Mustang fighter pilot. Vietnam found several uncles serving, a cousin, and brother Wendell as a young Ranger officer. His mother was a WWII widow at 16, her first husband killed with all 580 aboard when the SS Paul Hamilton, an ammunition ship with 7000 tons of explosives aboard, was torpedoed off the coast of Algiers. He has been writing, speaking and doing public relations, television, consulting and now multimedia work for a variety of American heritage, historical, military, veterans and Intel platforms. Jim’s only film appearance was in the PBS Looking for Lincoln documentary with Prof. Henry Lewis Gates, and he has guest lectured at the Army Command and General Staff School at Fort Gordon. Currently he is working to take his extensive historical video archives on line to assist his affiliated organizations with their website multimedia efforts, such as the Military Order of World Wars, Atlanta, Sons of the American Revolution, Sons of Confederate Veterans , Assoc. for Intelligence Officers, the Navy League, Georgia Heritage Council, National Memorial Assoc.of Georgia.

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