Our World

Job Growth in the Economy

I read an article that was in the New York Times recently about job growth in our economy, it was pretty interesting. Here were the main points in the article.
In the last three years, the American economy has added about six million jobs. Unemployment, which has gone down to 4.6 percent last month, has fallen to the lowest point since 2001. In recent months, the wages of ordinary workers have finally started to increase enough to slightly "outpace inflation". But the new government data, said Joseph LaVorgna, chief United States economist at Deutsche Bank, suggests that “the best news on job creation is behind us.” The payroll growth recorded in September, from a survey of around 300,000 businesses, was the weakest since last year in October and even though job growth for the previous two months was "revised up significantly", it now appears that payroll growth has decelerated sharply. From March 2005 through March 2006, according to new information from the Labor Department, job growth averaged 236,000 a month. For the last three months, it has averaged just 121,000.

posted by Anonymous @ 10/06/2006 10:31:00 PM