BY: Adam Gavriel
The June United States unemployment numbers have been released, and well, they’re not too appealing to the eye.
As the old story of the tortoise and the hare racing will tell us, slow and steady wins the race; but when it comes to economic recovery, who exactly is winning with “slow and steady”? On the brighter side, progress is still progress, and as long as the economy is moving forward, Americans and the world alike can remain optimistic with hope on the horizon.
According to an article published by Forbes, employers added 195,000 workers in June, slightly higher than economists’ prediction of 165,000. Despite the added workers, the unemployment rate remained unchanged at 7.6%
“Since June’s numbers are merely more of the same, it’s unlikely to significantly alter the Fed’s thinking. The central bank is targeting 7% unemployment before they begin to reduce their monetary easing. Regardless, markets have been hit with waves of volatility lately as investors tried to deduce when the Fed would cut back on its bond purchases.”
The Federal Reserve, of course, is pumping $85 billion-a-month bond-buying program into the US economy to try and increase activity. AS the article states, they are aiming for an unemployment rate of 7% or less to cut on the initiative.
While the private sector is beginning a recovery, the public sector continues to bring the recovery down. While private employers added 202,000 workers in June, state, local and federal governments fired 7,000 workers.
While slow and steady eventually wins the race in the folk tale, it’s a different story when it comes to a recovering economy. Again, while progress in a forward motion is still better than the alternative, with the American economy struggling for as long as it has, we’d like to see better and more rapid progress begin to show.
That’s why at Crossroads Consulting, we’re doing everything we can to get the process to speed up. As an employment agency dedicated to putting the ‘human’ back into ‘human resources’ we’re not just a job board, we’re an office of people working FOR you. Our search firm is the connection you need to get introduced to the correct job path, and career path, that you’ve been looking for.