U.s. Economy Gains And Jobs - 944 Words

Article 6 – â€Å"U.S. Economy Gains 215,000 Jobs in March† The anecdotal explanation for the American economy for years has been that the number of jobs have increased but wages have not grown as rapidly. This held true again on Friday, April 1, 2016 as 215,000 jobs were added to the US economy. Because this amount exceeded the predicted 199,000 jobs, this gain was considered a healthy one. According to Jim O’Sullivan, chief U.S. economist at High Frequency Economics, wages grew a minuscular 2.3% compared to last year’s statistics. In the last two years, O’Sullivan states that millions of jobs have been added to the economy but wages have not followed. Typically, an increase in the number of jobs will result in an increase in wages. March’s wage growth is especially disappointing as wage growth had reached 2.6% last year, only to fall to 2.3% this year. U.S. Deputy Secretary of Labor Chris Lu believes that â€Å"Wages are the unfinished business of the recovery. Clearly we need to do more on that front.â €  The unemployment rate rose from 4.9% to 5%. This is usually indicative of the return of employees to the job market. This is a positive sign. In part, the second-rate wage growth is due to the number of employees seeking full-time employment but can only secure part-time employment. â€Å"Involuntary† part-timers increase slightly in March from 6 million to 6.1 million. This explains the high underemployment. Underemployment is derived by combining unemploymentShow MoreRelatedU.s. Balance Of Payment Deficit1425 Words   |  6 PagesSustainability of U.S. Balance of Payment Deficit The U.S. has been running a trade deficit consistently since the early 1980s. There have been minor recessions from 1980 to 2008. The Great Recession starting as a result of complex financial products, which masked debt risk (McGahey, 2014). The Great Recession was not a result of trade deficit itself. 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