Author: Nishant Sheth
A recent article claims that that U.S. Jobless rate is at a 4 year low. The number of people on unemployed workers benefits fell last week to the lowest it has been in four years. Is this a sign the economy is improving? This is encouraging news after hearing recent reports that growth in the economy was actually slowing. Hiring has picked up recently. In January 243,000 jobs were added and the rate dropped to 8.3%. Not good but definitely an improvement of note. However, 13 million people still remain unemployed. The good part is that an increase in consumers income keeps them spending and this stimulates growth in the economy. The income rose by 0.3 percent. Seventy percent of economic activity is on the basis of consumer spending, which is important. The less consumers spend the worse off we are on the road to recovery. The other disappointing factor is that construction spending decreased since December because there was a sharp drop in commercial building projects. Manufacturing also suffered. Despite all these concerns, the fact that unemployment is decreasing is a good sign for Bentley students? What do you think about the current employment situation, do you think we are headed in the right direction?