Being unemployed is not a good situation for any person to experience. This condition is also detrimental to families, communities and to society as a whole. When unemployment is high, life for everyone becomes more complex and difficult. Be that as it may, when the unemployment is low everything is opposite.
People who work live more productive lives, communities prosper and grow and society as whole begins to improve. This is what people can look forward to in 2016. The reason for this hope has to do with rising wages and low unemployment. Unemployed people can now find work and improve their financial situation with relative ease.
President Obama’s efforts has helped to improve the job situation in America. Unemployment is currently at an all time low. The 4.9% unemployment rate is considered full employment by economists. American society has not enjoyed these many available jobs since before the 2008 recession. President Obama voices his complaints about not receiving credit for this growth since he was instrumental to the positive growth in the labor market.
The US Department of Labor states the wages for American’s has increased a half percent since the last quarter of 2015. This is a huge amount of money for all workers within many different fields. While job growth was fairly consistent among all occupations; it really skyrocketed in the areas of retail, restaurants and the service industries.
People who work within these occupations typically receive lower wages than most other fields. However, with the slight increase in wages these individuals could earn between an extra 1$ – $3 per hour. This would a significant improvement on the minimum wage rate that is offered to many workers today.
Keep in mind that the minimum wage rate has been increased in at least 16 different states since the start of 2016. This increase has helped lower paid workers to live better lives and to participate more within the economy. The minimum wage increase within states such as New York and Nebraska has had a positive effect on workers and the economy. Remember that when people have more money in their pocket they tend to spend more money in society.
Companies are also preparing to dole out more cash to workers. Now that the economy has an abundance of jobs; companies realize that workers have more choices about where they want to work. So, to attract the best and most qualified workers to their organizations they will have to offer a better salary or hourly wage. Perks such as benefits and vacation days will also be offered by many businesses as well. Employees should take advantage of this situation to try and find the best job possible because this situation will not last forever.
Ultimately, job growth will slow down sometime later in 2016. Once it does, unemployment will slightly increase due to the many complex changes in the labor market. Workers who want to set themselves up for a good job before this decline goes into effect; should start their job search as soon as possible. A more in-depth presentation about this subject is available in the article titled Wages Rise as U.S. Unemployment Rate Falls Below 5%.
Madison Street Capital is an investment firm that knows how important workers are to a society. Workers are important to the success of an investment firm because workers are the individuals that help to generate the huge amount of resources that are needed to make ventures. Madison Street Capital has high end investments at home and abroad. This organization will help investors to create more jobs so that workers can generate a stronger economy and help to improve investment opportunities all across the globe.
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