United States Unemployment Hits an All Time Low

 

Staff Writer: Heather Abler

 

     The unemployment rate in the United States has dropped to 4.4%, which is the lowest it has been since May 2007! In April, there has been 211,000 new jobs created, as well as 79,000 last March. Michael Arone, a chief investment strategist at State Street Global Advisors, stated, “We’re nearing full employment in the US economy.” Our current status really shows how far we’ve come since the Great Recession that ended in 2009, with the unemployment rate being 10%. Another exciting aspect of this news also means that wage growth is predicted to rise. Wages grew at 2.5% last April, although the Federal Reserves would like to see it hit 3.5%. Cathy Barrera, chief economic adviser at ZipRecruiter, stated, “The unemployment rate is even lower than expected. We’re seeing that continued wage growth. To me, these are all good signs.”

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Photo Showing the Unemployment Rate under President Obama. Photo Credit: Emily Boswell

 

Is this huge unemployment percentage drop and wage growth because of President Trump? Since taking office, 522,000 new jobs have been created, majorly ones in medicine, business, hotels, and restaurants. No matter what your political stance is, it’s wrong to say that he didn’t have any involvement in the nation’s improving economy. Trump of course takes credit for the rising economy and blames Obama for “weak growth.”

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Map Showing Unemployment under President Obama. Photo Credit: Emily Boswell

 

Although the U.S. is greatly improving itself, there still are some major flaws in our economy. For instance, a high number of Americans aged 25-54 aren’t working for a large number of reasons. 5.3 million Americans are working part-time jobs they don’t want. However, the White House said that jobs have had “great growth…in the wake of the President’s ambitious economic agenda. At the same time, the GDP figures show that there’s still work to do, and we’re ready to do it.”

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Sign Reading Unemployment. Photo Credit: Emily Boswell

 

To get more of a localized opinion on how people our age are feeling about Trump and the economy, we asked two Woodstock High School students, Katelyn Gann, sophomore, and Delaney Spurlock, sophomore, what they thought of the recent economic news. Katelyn stated, “Honestly, I think it’s because the immigrants are leaving and American-born citizens can get jobs.” She also stated she believes Trump is another reason unemployment is going down. Delaney stated, “I don’t think it has to do with Trump, the unemployment rate has been dropping since before Trump was president.”

 

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