economics

SUMMARY America’s record-breaking economy rushed into the New Year with employers adding 387,000 jobs, pushing the unemployment rate down to a 30-year low of 4%. January’s rate was down from 4.1% rate in December and the lowest level since 3.9% rate in January 1970. The improvement reflected strong job growth in the service area, construction and a business services. Even employment at factories, which have been flaking jobs, increased. Average hourly earnings rose 4% to $13.50 in January. While strong …

…and people would be tempted to change jobs or professions which can eliminate some of the professions or cause shortages in some fields. On the other hand job market as any other market would correct itself with time because of the increase demand in professions and jobs that are at the point of vanishing. Government involvement will help to stabilize the situation, by making necessary adjustments, such as interest rate increase, minimum wage increase, ect…