Debt, unemployment and america’s job growth

Along with the plethora of other topics under the current American spotlight, unemployment continues to be a prominent concern. Despite these concerns, recent reports show that job growth in the nation is climbing slowly, but steadily. Tennesseans dealing with the many struggles of debt understand the impact it can make on one’s personal life and on a family. Could this slight increase in the country’s jobs continue in the coming months?

As of last week, the numbers show little change. Although the Bureau of Labor Statistics shares that jobs increased by 313,000 in regard to nonfarm payroll employment last month, the unemployment rate remained at 4.1 percent. This percentage equates to roughly 6.7 million Americans who are still unemployed. However, industries such as construction, finance, retail trade and manufacturing services have thrived in the last month. While these industries see significant growth, the number of individuals who have been unemployed for an extended period of time stayed at 1.4 million. This number does not include people who are unemployed but not currently seeking work, but the BLS clarifies that there are different surveys that apply to these unemployed Americans.

When growth moves slowly, some workers try to look to the bright side. CNN Money appears to share this sentiment, stating in an article from last November that the U.S. unemployment rate has been at an all-time low. In fact, using the aforementioned data, CNN reveals that unemployment is at its lowest in 17 years. On another note, wages in recent months have increased only minimally. CNN points to Hurricanes Harvey and Irma as having stripped some areas of jobs, only to see employment numbers skyrocket after restaurants and businesses reopened after the disasters. There may be a long way to go with America’s job growth, and many still grapple with climbing debt, but the future of employment could continue to see change.  

 

 

 

 

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