Slowdown in Job Growth
Years after the financial crisis the economy is recovering, along with a job market that is also growing, but the growth of the job market is beginning to slow down. Though it may seem good enough that the job market is even growing, this trend of slowing down can really hurt the economy. There are still many people who are unemployed, and the slowing down of the job market is not helping with the high unemployment rate. Though it seems right now that job market growth is slowing down, there is still hope. Last spring the job market also saw a slow down in growth, so it is possible for growth rates to increase after the season.
It may be very difficult for the United States to pick these growth rates back up, and even if growth rates do begin to speed up it may not make a big difference to the current job market. There are still many people who are in need of jobs and many jobs that are being cut.
Written by: Jessica Ho
Source: The Wall Street Journal