Unemployment Rate Drops
According to an article in the finance section of Yahoo!'s homepage, the unemployment rate dropped to 4.5% even though the wage rate is still on the rise. The biggest loss of jobs came from the construction and factory industries. This most recent drop in jobs in the construction industry came during the cold winter months, and has been reportedly the biggest job loss since 1991. The highest job increases came in the health care providing and financial firm industries.
Despite the job losses, the wage rates have continued to rise through the winter months. This high wage rate contributes to the United States' economic health as it helps increase consumer spending. Economists expect the unemployment rate to slowly creep back up as the economy's growth slows.
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unemployment rate
2 comments:
I read that in an article at MSNBC.com. It just shows what is expected to happen as minimum wage especially increases employers cut jobs in order for them to not lose profit.
Jen, what is your analysis of the situation? All you've done is summarize the work of someone else.
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