With an unemployment rate of 5,6%, according to BLS estimates from the latest payroll report, the economic situation in the US perfectly match the targets of the US Federal Reserve System on unemployment (near 6%) and an inflation rate (about 2%). It is interesting that some other countries (China, for example), fits into that criteria well enough too (look at the first bubble chart). It has to be said that unemployment rate of 6% does not mean that only 6% of the adult population do not work. In fact, speaking about US, more than 40% of adults is not employed (look at that employment to population ratio indicator from the World Bank data, showing overall burden on earners). And the "unemployment rate" shows only the fraction of the actually not employed who want to work and are looking for a job (according to International Labour Organization "unemployed person" definition). The number seems large, but compare it to one of the Greece, Spain or Italy, where the majority of working age population earns nothing. No wonder to see the debt of those countries skyrocketed.
Compare the countries and see the historical trend in unemployment rate and employment population ratio on the graph below the page.
Note: please be aware that in the countries with the significant share of population practicing some tradition religions such as Islam, women adhering to the traditional views being actually working, does not report as "employed" for the religious reasons. Thats partially explains low levels of employment rate conjoined with low level of unemployment rate at the same time in such countries.
In the United States, people who lose their jobs may file for unemployment benefits. The number of new jobless claims reported weekly to the U.S. Department of Labor is considered a leading forward indicator for jobs growth in the US labor market and is thereby linked to expectations for economic growth and potential moves by the US Federal Reserve to increase interest rates. According to the most recent data:For the week ended 16 July, the number of initial jobless claims - e.g. new jobless claims - decreased by 15,000 to 233,000, nearing the 232,000 reported in May. Whereas initial jobless claims decreased, the total number of persons...
ADP National Employment Report: Private Sector Employment Increased by 177,000 Jobs in April Private-sector employment increased by 177,000 from March to April, on a seasonally adjusted basis. Most Recent Report | Monthly Growth
The ADP National Employment Report® is a monthly measure of the change in total U.S. nonfarm private employment derived from actual, anonymous payroll data of client companies served by ADP®, a leading provider of human capital management solutions. The report, which measures nearly 24 million U.S. workers is produced by the ADP Research Institute®, a specialized group within the company that provides insights around employment trends and workforce strategy, in collaboration with Moody’s Analytics, Inc. Most Recent Report | Monthly Growth
If you are currently practicing medicine, architectural design, petroleum engineering, marketing, or law you are among the lucky in the best-paying career fields in the US. If, however, you are in school now then you should consider occupations such as wind turbine service technician and occupational or physical therapy assistant, fields which sources expect will be fast growing during the next 10 years. If you want both, a high-salary and fast-growing career, move into or study anesthesiology. These insights are provided by the Occupation Employment Statistics program (OES) of the US Bureau of Labor Statistics and Glassdoor, a jobs and...