Manufacturing & The Economy
- Published on Monday, 09 September 2013 16:33
- Written by Kate Kunkel
Job creation is not keeping pace with the economic recovery that has been occurring in the United States since the end of the recession. While jobs are being created every month, a minimum of 200,000 new jobs is needed each month just to maintain pace with population growth, and with the exception of February, when more than 300,000 new jobs were created, every other month of 2013 has seen jobs growth below the 200,000 mark. In August only 169,000 new jobs were created during the month.
While the unemployment rate has managed to slowly decrease in 2013, that is because only 63.2% of the U.S. population participates in the job workforce currently, the lowest percentage since 1978. Each month as new jobs are created, more workers are dropping out of the potential jobs pool as they become disenchanted with the jobs market. Also, the vast majority of new jobs are coming from the private service-providing sectors and not from the goods-producing sectors.
Source: Industrial Info