Our topic to discuss in this article is The American labor market and the slow growth.
In 2019, the US labor market ended with slow growth, in a complicated way, with no expectations to highlight, we must provide this data to the labor department on Friday, to get more details about it, let's continue with this content.
What are the details of the slow growth in the US labor market?
The unemployment rate of 3.5 percent indicates that it remained stable, it was recorded that non-agricultural payrolls had an increase of 145,000, the objective that the economist had in terms of labor was 160,000, since unemployment targets are reached While they remain at a permanent minimum of 50 years, wages have certainly shown slow growth, but in terms of hourly earnings there has been a growth of 2.9 percent, although it is lower than the target that was 3, 1 percent, since July 2018 have not been the lowest wage increases marked recently in December The US labor market.
In October and November, the counts were 14,000, initially estimated at 266,000 for November, but this has been reduced by 10,000, now for October it has been 156,000 falling to 152,000. Certainly, a boost was seen in November, due to the return of 40,000 GM workers, what would happen in December could not be avoided, the fall in the increase in employment, indicated by Michael Pearce, this solid attraction for the growth characteristics of employment, although I overlook many estimates, speaking of 2020 about the possibility of salary extensions with a solid benefit that we expect, he said.
What are the results of this slow growth in the US labor market?
The lowest since 1994 was the separate and comprehensive measure where the workers who are most discouraged and underemployed enter, falling to 6.7 percent, this is directly related to the fall of 140,000 who worked part-time, being the economy a factor in this, in terms of the workforce remains at 63.2 meaning that it is stable, the answer to this is that the workforce was seen in 209,000 to 164.6 million, but in a drop in the group of I work at 48,000 to 95.6 million.
In 158.8 million we have seen the increase in total employment, which represents a new maximum, now, in terms of African Americans, unemployment was increasing, by 0.3 percent reaching 5.9 percent, with respect to payrolls. The increase has been 2.1 million, which means that the average is 176,000 monthly, since 2011 we have the slowest year in terms of job creation, in 2018 there was a decrease of 2.7 million aggregate positions , there is a recession on the horizon, although the absolute is no longer planned.
Retail stores in December were the factor that caused the increase in employment 41,000, leisure and hospitality 40,000 and medicine 28,000, in the area of construction the increase that was recorded was 20,000, in the case of services By profession and commercial they reached 10,000 of increase, now those that fell were manufacturing to 12,000, transport and storage fell to 10,000 and in 8,000 mining, in the case of manufacturing they do not escape the complicated year, the net profit was for the 46,000 and how shocking it was last year to have 264,000, there was certainly a battle between the United States and China commercially during the year, where in addition, between the two parties exchanges of millions of dollars in tariffs were made.
It remained stable at 34.3 hours, the average work week, which represents a good indicator for employers and their future intentions, the home labor department also published annual reviews, but there were no changes to highlight in the year regarding the unemployment rate and so we know everything about the slow growth in the US labor marketWe have finished with the content of this article, where we speak in a very specific way about the slow growth in the US labor market, so we hope that it is the understanding and usefulness that is contained here for our readers.
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