WASHINGTON: According to CNN Money, employment levels in the United States saw a massive gain at the beginning of the year. The unemployment rate has risen to 4.8 percent, which may sound like a negative, but is actually a sign that Americans are looking to get back into the job market. The kind of jobs people have been diving into have been mixed.
The quality of jobs is another issue. For example, America added 76,000 retail and restaurant jobs in January. Those tend to be lower-paying, low-skill positions. But the U.S. economy also gained good-paying jobs. Construction added 36,000 workers. Financial services businesses hired 32,000 new workers and health care gained 18,000 new jobs. While manufacturing barely added any jobs in January, some see the outlook for factory jobs improving under President Trump.
“Manufacturing jobs are going to get more in demand. He’s going to put a focus on jobs,” says Edward Fleischman, CEO of the ExecuSearch Group. This momentum has also seen how much people earn go up with paychecks rising 2.5 percent. “With the unemployment rate so low and very few unemployed people looking for work, it’s getting harder and harder for employers to find workers, and that’s driving up wages,” says Luke Tilley, chief economist at Wilmington Trust. “This is a solid jobs report.” Trump has made a promise to create 25 million new jobs over the next ten years, and has already taken steps to see to it that this happens by making deals with business leaders such as Mayoshi Son of Sprint Corp who vowed to bring 50,000 jobs to America.
