When the unemployment rate falls, on the surface, the books look good. That was the story in August for the United States, as the National unemployment rate fell to 7.3%. Unfortunately, that number falling doesn’t always mean good news, and while it is a microcosm of a measure for the economy, it will never tell the whole story on its own.
According to reports, the U.S. economy added 169,000 jobs in August, and improvement from the 104,000 added in July, yet much lower than economists’ expectations for the month.
Here is where the bad news comes in…
The labor rate participation has been falling since the year 2000, accelerated by the Great Recession that still mires the American economy.
“Economists say there are several reasons for the decline, including the retirement of the baby boomers and fewer students who also work. But the main reason for its recent fall is a lack of good jobs.”
Wait a minute; people can still afford to retire?
“There are now 90.5 million Americans who don’t work and are not counted as part of the labor force. This excludes kids under the age of 16 and non civilians such as those in the military or in prison, but includes just about everyone else.”
So while the 7.3% number remains to appease the masses, the deeper measures continue to breed pessimism.
At Crossroads Consulting, we want nothing more than to see that number dip below 7% the right way. Dropping that .3% with people entering the workforce, not exiting it. It’s why we try to take such a personal approach with the clients and organizations that we work with.; and trust me, we want to work with everyone.
As an employment agency committed to putting the ‘human’ back into ‘human resources’ we implore you to contact us today. Take a look at our job openings that we are looking to fill as soon as we can, and apply to one today. If you can’t find a job that you’re looking for on your page, send your resume through anyway and we’ll do what we can to help you out.
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