Unemployment is at record lows in President Donald Trump’s America, and it’s showing in a huge way.
In February, the jobless rate hit a 17-year-low of 4.1 percent. That, combined with other economic factors, has economists from Deutsche Bank AG, Goldman Sachs Group Inc., JPMorgan Chase & Co. and Moody’s Analytics Inc. predicting that unemployment could fall below 4 percent by this summer and below 3 percent in the long run, Bloomberg reported back in March.
“We have unemployment at 3.25 percent by the end of 2019,” Jan Hatzius, chief economist with Goldman Sachs, told Bloomberg in an email. “A decline below 3 percent at some point is obviously possible.”
That would be the lowest rate since 1953. Which raises a question:
What does that even look like?
Well, Bloomberg took a look at some cities where the unemployment rate is already pretty low.
Let me tell you, it looks pretty good indeed:
— QuickTake by Bloomberg (@QuickTake) March 15, 2018
So, in short, improved perks, more flexibility and the freedom to leave for other jobs with more pay or better benefits.
In other words, everything that the Obama administration and the Democrats would have liked to have legislated into being, but never could manage to.
And that’s not all — this recovery, as the video points out, is also helping out everyday Americans and not just the rich.
That’s a pretty big deal for long-term economic stability.
While job growth eased in March, according to The New York Times, the unemployment numbers stayed the same at the 17-year low of 4.1 percent.
Average wages rose 2.7 percent year-over-year, or about 8 cents per hour.
Even The Times was forced to admit that while “(t)he report for March wasn’t as strong … (it) still extended a remarkable run in the job market.”
Of course, this could change if the burgeoning trade wars with China or NAFTA partners heat up. However, there’s much that can be done to mitigate any fallout from that.
The fundamentals of the economy have improved greatly over the last year and change, and that’s something Americans everywhere, no matter what their political stripes, should be happy about.
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