US unemployment for january slightly increased to 5.7%. This increase is viewed as a positive since it means more people are looking for jobs now that employment has been higher, showing a “confidence in the job market.” The article provides a graph showing the number of jobs available each month since January 2014. Several concerns, however are present in large companies: the strong dollar and fall in oil prices that may cost American workers their jobs in the energy sector are two of the main concerns. A positive is the wage gains growing steadily.
How can this affect mobility, such as it is explained in the article for lecture reading?
6 comments:
It’s obviously good to see that more people are transitioning from discouraged workers back into the labor force. It makes you wonder if a large part of the unemployment decrease we had seen lately was largely in part due to people simply giving up looking for jobs in the first place. Hopefully where jobs are lost in the energy sector, jobs are gained in other industries due to decreased production costs with the cheaper oil.
I agree with Kevin, it is good to see this transition from being a discourage worker to actively looking for employment. I think this has a lot to do with the recent decrease in oil prices. Consumers now have more money to purchase goods and services. However they can't spend what they don't have. This is why individuals are now looking for jobs.
I wonder if this would predict how the unemployment rate will fluctuate for the next few months. Maybe it will consistently alternate between increases and decreases as more people enter the job seeking demographic and then find jobs which could lead to more people returning to searching for work?
I think it is great to see that more people are looking for jobs, even though this means that the unemployment rate may increase a little. I think it will be interesting to see if more and more people start to seek jobs, and whether or not the country will be able to provide jobs for people. However, if more people are seeking jobs, they will have to be willing to accept lower wages.
I believe that the unemployment rate slightly increasing to 5.7% is a good thing. This shows people are becoming more confident in the job market and are looking for work, which is a positive thing for our economy. Wages are on the rise and this incentivizes the unemployed to start searching for jobs. Yes, the unemployment rate may go up over these next couple of months because of our rising confidence in the market, but in the long run this is a positive thing with more people seeking jobs. We our becoming more confident in our economy/market and this is evident with more people looking for jobs now that employment has been higher as of recent.
Belief that omitting those who have fallen off the unemployment compensation roles gives an accurate accounting of unemployment figures, is delusional. The unemployment figures are just numbers that do not give a full picture.
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