Jaden McManus
Donald Trump released a tweet on September 5, 2019 “Really Good Jobs Numbers!”. After the jobs numbers were released Trump released a video on twitter covering the fact that there were multiple job opportunity increases for those of different races, while he isn’t focusing on that expected projections in the workforce to be 150,000 by August not meeting the goal and hitting the job growth of 130,000 jobs. As the job growth increased so did the percentage of discourced or underemployed workers from 7% to 7.2%. But Donald Trump isn’t wrong about the positives that come along with the job growth.
The average hourly earnings increased to 0.4% as for over the total year has hit 3.2%, which was a one-tenth of percentage better than expected. As expected with the job growth increase the labor force participation increased to 63.2%, which is the highest it has ever been since August 2013. Most claim that the report had some negatives but overall was a pretty positive report. With the job growth having positives of breaking new milestones like the labor force participation and the total number of Americans considered employed raised as well, there is still focus on the job growth not meeting the expected growth spurt. Along with the labor market being considered to be in a strong position and for the consumer to be “strong”.
The monthly job growth has slowed down to 158,000 to when it was originally a year ago 223,000. This has raised concerns that the economy is slowing down and may be headed for recession. Because of past months numbers even the past months were revised lower, for example. In June, it was 193,000 to 178,000 which predicted July to be 164,000 to 159,000. Which brought the job growth down to 156,000 for the month of August. The economy is facing Recession fears as the job growth rate was at 3% about a year ago and has dropped down to 2%, the Federal Reserve had its first cut rate since the Great Recession.
Overall there is change to help the U.S. have a healthy economic outlook. As for right now the job growth rate is expected to be between 2%-3% so the rate we have right now isn’t going to cause too much of a scare to cause another form of the Great Recession. Currently there isn’t too much inflation or deflation and the unemployment rates are to stay natural. Trump has “promised” and planned for the economic growth to increase to 4%. With the rate currently being 2% it may be harder to reach the goal Trump has set. Considering the factors of supply, demand, economic future, and capital availability.
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ReplyDeleteI think it is an interesting outlook on the job opportunity growth in the US. We as citizens hear all the time that we are running out of jobs in America, so I think it was smart of you to talk about how we are at an all time high for job rates since August of 2013. I liked that you gave a lot of data and statistics to show the growth and trends we are actually having in the country so that we as readers know the credibility of the argument.
ReplyDeleteEmily Kading
Have you considered how many jobs there would have to be to get that 7.2% of unemployed people and if they all had jobs would the US go into a state of repression. and what would that mean for people who're trying to make a living.
ReplyDeleteI agree that the recent growth in job numbers in America is more good than bad. Yes, it was mentioned in the blog post that there was a slight increase of underemployed workers, but when you raise the overall number of employed workers, this is bound to happen. Additionally, the fact that the average hourly earnings have increased is another sign that our economy is benefitting from the job number bonus. However, I am unsure of why later in the blog post it says the monthly job growth has slowed down. I would have thought that if job opportunities have been increased, the number of monthly job growth would also go up. Perhaps because this change is so recent the new numbers have yet to take effect. Overall, I would say these changes lead to a bright future for America.
ReplyDeleteI like that there are many good things about the job numbers increasing. But what about the bad ones, there are going to be many people are there that are going to question the good side and the bad side of something, so providing information for both good and bad in this blog would have people stop questioning because they have been answered. But overall it’s good that the jobs have really good numbers.
ReplyDeleteThe article mentions that we are possibly working our ways towards a recession, and economically yes, we are. Companies are hiking up prices quickly and wages are lingering behind as a result of there being less money flowing between people and companies. But, once that recession hits, how much will it affect the job market and how many people will lose their jobs?
ReplyDeleteI really like how you wrote this and how it is said. I believe that the way that the economy is flowing right now it is at an unequal balance of good and bad, because of the rates of unemployment. It's kind of worrying that the economy is slowing down because of this unemployment. I like how you added that last sentence, (Considering the factors of supply, demand, economic future, and capital availability.) because it helps us to understand the meaning of why you are doing this topic and what the purpose is along with what is changing and what is constant. I really like how you added both sides of this and you didn just put your opinion in even if you had one.
ReplyDeleteI see that there has been a job growth of 2%, while Trump had promised an increase in jobs to 4%, what I am questioning is the concern of a recession. There has been a rise in employment and it was/is expected to grow from 2-3%. I see that there was a mention about the data of employment in recent years compared to today, which is very drastic and not good for the economy. Although with this growth in employment and along with growth of hourly earnings I don’t believe there should be a concern of a recession. I believe we are slowly growing to our goal and at this rate we can get there.
ReplyDeleteI agree that it will be hard to reach the economic growth goal of 4% since it is currently 2% as you stated, however, I also disagree with you when you say that we shouldn’t be too concerned about a recession. The reason why I disagree is that employment rates have such a small impact on recessions. According to Study.com, recessions are caused by low consumer confidence, high interest rates, and reduced wages. Because wages aren’t keeping up with the inflation rates, people are less likely to spend money because they don’t have enough to begin with. Because people spend less money, this causes a recession because of low consumer spending.
ReplyDeleteFrom this entry, I gathered that while the employment rate is increasing for some, unemployment is also rising. It seems that there isn’t too much of a concern around employment because although the number of employed workers are decreasing each month, it isn’t enough to cause a lot of worry.
ReplyDeleteYes the these numbers look good in terms of jobs themselves. I agree that that there are positives and they are looking good but what about the underlying negative. No, there is not a high increase or decrease in inflation but that does not mean that the inflation rate surpasses the wage rate already. Our inflation rate does not meet the rate of hourly pay meaning things are starting to seem a lot more expensive to the average American. How can Trump promise a 2% increase without seeing that for there to be economic growth we need the consumers to be able to afford our goods. Over a great analysis about our work force and the economy built around it. You shared a lot of good information that is very current and happening now in our economy and did a great job of outlining the future.
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ReplyDeleteI think it is good that the job numbers are increasing because unemployment it what really affects people negatively. The fact that it also isn’t just one race with increasing employment rates is also good, yet things can happen such as underemployed workers. With numbers of workers increasing, it affects the pay and working hours of people. By job growth increasing, labor force participation has increased which is good yet technology will never stop evolving. None of us really know what the future holds because one day technology could be the main source of life. We already use it everyday and as long as technology keeps evolving, so will this world and new things could come and take over.
This is a more interesting outlook on the job opportunities in the US. We hear a lot that we’re running out of jobs or that they’re being taken away from us, so it’s very nice to know that we are at an all time high for job rates since August of 2013. I appreciated how you gave a lot of statistics and data to back up your statements.
ReplyDeleteJob growth has been increasing and we are slowly working on creating more employment. With this, average wage has also been increasing. While there are downsides to everything, especially economics, we must pick and chose which is most important. Right now, Trump is focusing on increasing job growth to at least 4%. This job growth has helped people of all races and I think we'll end up having many more benefits than downsides at the end of the day.
ReplyDeleteIt’s great that the employment rate is going up, but I wonder if there should be more concern over underemployed workers. Underemployed workers are those who are working fewer hours than they are willing to work. To me, this seems concerning because people who are employed still aren’t making enough money because they can’t get their hours. How would we go about ensuring that those who are employed can work enough hours to make a living wage? Do we raise the wages?
ReplyDeleteThere are positives and negative things happening within job growth at the moment. It's good that the number of jobs are increasing because unemployment is a negative aspect for people. It is inevitable that there is an increase of underemployed workers, in order to raise the number of employed workers. Overall, I believe there is more good than bad happening regarding job growth in America.
ReplyDeleteI agree that creating new jobs is necessary and that American jobs will help the country as a whole. I do not think that job growth decreasing is going to cause a rescission though. Although job growth is decreasing and the amount of new jobs a year is decreasing it may not be a bad thing. The unemployment rate was almost 10% in 2009 and today is is 3.6%. According to BLS.gov,"a healthy unemployment rate is 4-6% which america exceeds, although new jobs are not being created many people have been finding work and overall creating more jobs for people who don't want to work isn't going to benefit society, people also cant create jobs if nobody is there to work them. Overall job growth isn't always going to be a accurate representation of good the American society is doing.
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ReplyDeleteI think that the fact that job growth has slowed down in the US, is very disconcerting. I think this because the more people that immigrate to the US, the less opportunity there will be for them to contribute to society. This makes me think that at one point we will have more people looking for a job than having one.
ReplyDeleteTo be completely honest, I’m curious what jobs are raising this employment rate. You can’t just create jobs out of thin air, so what is Trump doing that’s increasing this rate? Is he simply pushing people in the right direction, or is he creating jobs in his own area of influence to help manually? I don’t believe there is inherently one better than the other, but if these jobs he’s creating are either 1. Places actively hiring already or 2. Minimum wage, dead-end jobs that aren’t going to benefit the workers massively, there’s still a problem. This is more of a question than anything else.
ReplyDeleteI do agree that there are both positives and negatives to the jobs numbers. Your implication that it is solely the president’s responsibility to increase jobs and wages, which I disagree with, because it is a joined effort between the direct employers and even the constituents, as well. I also would expect the president’s video and tweet to only highlight the good - if you were in that position, would you highlight what’s bad about your country. The thing I find most concerning, though, is the increase in underemployment rates. This is bad because it means that even working people may not be getting the financial stability that they are trying to earn. I do not believe, however, that this directly correlates to a recession, especially with a minimal increase such as this one.
ReplyDeleteAlthough the job growth may be decreasing this should not be seen as a problem in our economy. The reason why I say that is because there is so many opportunities to make your own business or for other people to make these businesses to employ more people which is why I do not see this as a problem which would lead to a recession.
ReplyDeleteI agree that employment is a necessary goal in the US and to see that unemployment is continuing to go down is really good for our economy. As far as the job growth falling short, it’s inevitable that overtime it becomes harder to create jobs. Even so, we are definitely headed in a better direction compared to where we’ve been in the past.
ReplyDeleteI agree the job growth in the United States is definitely good. There is an increase of underemployed workers, but when the overall number of employed workers increases this event is expected to happen. On top of that, the average hourly earnings have increased, this is another example that our economy is benefiting from the higher job number. I am a little confused about how the monthly job growth has slowed down when job opportunities have increased, if this were so the number of monthly job growth would increase as well. Over all I can only see these changes benefiting the United States.
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