Steadiness in the Economy



With all of the hustle and bustle regarding war between the United States and Iraq, the American economy has surprisingly shown some signs of stability.

Recently, the Bureau of Labor Statistics reported that the national unemployment rate remained at a steady 4.5% for the month of June, which is no question a sign of optimism.

It also went on to state that roughly 146 million civilians are currently employed, and that there was a 6-cent increase (from the month of May) in average hourly earnings. However, Peter Morici, a professor at the University of Maryland, believes that the United States is not reaching its economical standard.

Morici believes that well college graduates are finding it easier to obtain secure jobs related to their profession after they graduate, younger, less educated students are having a harder time gaining employment that provides benefits and pays well. In addition, the Center for Economic Policy and Research has reported that the average amount of job opportunities listed each month for this year stands at about 145,000, which is down from the 190,000 last year.

These figures demonstrate that though the economy currently remains stable in some aspects, it is falling below America’s expectations. On the other hand, with the current dilemma in Iraq, some may feel that these figures are not so alarming.

Either way, it is evident that the progress of the American economy will be closely monitored in the months to come.

madkad – Thu, 12/07/2007 – 12:52
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