The sequester is coming in March 1st. Though not being reflected on February's number, the public sector already lost 10,000 jobs this month and jobless rate in the sector is about the increase as predicted. Michelle Meyer, senior United States economist at Bank of America Merrill Lynch, says "we’re going to see federal job cuts and the spring is going to be a soft patch for the labor market." Needless to say, America will take a big hit this March and April when the Congressional impasse, let's see what is coming but right now, it's not too doomed while looking at job improvement as the nationwide unemployment rate is expected to reduce to 7% at the end of this year.
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1 comment:
The public sector has been losing jobs recently and the sad part is it is not going to stop there due to the automatic budget cuts that are on the way. But as you said it's not too bad as the nationwide unemployment rate is expected to reduce to 7% at the end of this year.
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