For nearly four years now, the United States unemployment rate dropped from 8.1 percent to 7.8 percent. It has been reported that this drop in rate was because many people have claimed that they are now employed and has roughly risen to 873,000. As calculated by the government, the numbers of Americans who are currently unemployed are at about 12.1 million which is actually the least number ever since January of 2009.
It was reported that around September the Labor Department has released 114,000 jobs. In addition to that, in July and in August there were also 86,000 jobs created. There was also a wage increase in September. But is this drop in unemployment rate acceptable?
One of the factors that contribute to economic success is a country’s unemployment rate. If it has a very low unemployment rate it means that there are many people who are working for a certain service or product. If many people are working it means that there are more productions and more productions mean more income and funds for the country. Also, the economy could benefit from the increased tax receipts that will come from companies, firms and the workforce as well as low spending on welfares. People who also have well and steady jobs would tend to spend more on houses, cars, gadgets, and more hence giving another boost to the country’s economy. Having a decline in nearly four years is simply not acceptable because of the many domino effects it brings. While it is true that every decline or gain is still a good decline or gain, if it is in the span of four years it is just not a good sign. It is just like saying that the problem must go on for four long years before a little percentage of decline will be experienced. This will have a domino effect in the economic industry and that the latter’s progress would mean to be a slow progress.
What is truly acceptable is a steady increase in the employment. A steady increase in the employment rate will have good effects in general since it might even create more jobs rather than creating jobless citizens. If it were slow and steady from the beginning of those four years it would have been acceptable or good but it was a decline after four years that cannot be said a good sign. Many have even speculated that this decline may have just been brought about by the coming elections. Let us just hope for the best that this decline in the unemployment rate to be a continuous decline which would eventually lead to a more progressive economy in the United States.
At the end, when all we want to do is just be optimistic and trusting that this will be a good sign and a good start for all of the United States and not just some ploy. The lives and future of the people are at stake as well as the future of the whole nation.