Search

US Employment Jumps To a Record High during August

The era of Donald Trump and his reign as the President, has been majorly criticized, following his decisions and policies. However if there is any positive to highlight on, it is the rate at which the US employment has grown.

Pay for American workers saw its biggest bump in nearly a decade last month, and this came amid a surprise late-summer hiring spree, which did not offer any sign that job markets could be cooling, the government reported last week.

The unexpected rise in the number, which saw jobs sprout up in construction, transportation, wholesale trade, finance and health care, proved as a golden opportunity for Donald Trump, who was tormented this week by reporters, which had questioned his ability to take vice decisions.

The US economy added an astounding 201,000 new jobs, well above the number foreseen by analysts. However, the rate of unemployment held steady at an already-low of 3.9 per cent and the wages expanded ground on inflation.

Going by the trend, it is really difficult to predict if the trump administration is really happy with the positive growth or not. As New York Times quoted in its op-ed that Trump’s administration is working against his agendas, and they even decided to remove the president, the uncertainty regarding positive results looms large.

The rise in the US employment sector has come right before the November elections, and could lend Donald trump a Midas touch. The average worker grew by 2.9 percent compared to august last year, the biggest increase since June 2009.

However, the gain also means that the expectations have risen to a new high for Donald Trump, and the Federal Reserve to continue raising interest rates this year also keeps a lid on the inflation, something Trump has been very proud about.

The strong hiring record in the month of August has also brought average gains to 1, 96,000 per month over the past year. Professional and business services added another 53,000, brining job gains for the sector to 5, 19,000 since August last year.

The signs are really impressive, and Trump would love to grow on the positives, with November elections approaching thick and fast.

Write a response

Leave a Reply

Your email address will not be published. Required fields are marked *

Close
True News Source © Copyright 2018. All rights reserved.
Close