The US saw the growth in its jobs sector for the first time in the last ten months showing signs that it is not going through an economic slowdown. Data shows that the employers around the country had added 266,000 jobs in the previous month, resulting reduction of unemployment by 0.1% from 3.6% to 3.5% in the past years.
The main contributions came from General Motors after its employees returned to work following a strike and the healthcare sector also added the next highest number of people. The US economy has been doing quite well despite concerns over a slowdown due to the ongoing trade war with China and reduced global investor confidence due to the increase in tariffs of some global goods.
According to experts, the number of jobs added last month had superseded expectations. The good news will strengthen its local labor market while also alleviating the doubts in the minds of the global investors amid signs of recession & slowdown.
The data in the report suggests that the various indicators had wide-ranging gains and even those indicators had got gains which had remained mostly stagnant since the economic recession in 2008.
The number of people working part-time despite wanting to work as a full-time employee reduced to 4.32 Million which is the lowest in the last 30 Years in the US. Wage growth showed a modest increase of 3.1% on a year-to-year basis.
The data was widely welcomed by the government authorities and the White House. It also shows that the economic policies of the Trump administration are working.
The US economy grew by 2.1 % in the last quarter that ended in September. The consumer spending in the US has also increased which is one of the major parameters of the US economy. But business investment and the investment done by global investors have reduced due to the increase in tariffs from the US and its ongoing trade dispute with China.
Jane pursued a Degree of Doctor of Medicine and holds 3 years of experience in the Health domain. Together with her outstanding management skills, she holds strong leadership skills that make her a promising personality to represent our Health department. She is the Content Writer of the Health Department from the last 2 years. Jane was full-time practitioner in the Health domain before joining our news portal. She loves to write news reports with precision and never misses the key elements of that news report.