The investors as well as the workers received a gift before Christmas with the November jobs report showing that the economy of the United States can still produce a lot of jobs and also sustain gains in wages above the inflation rate. However, the only thing that is still worrying them is the worry of the trade war which is persistent.
Senior economist, Daniel Zhao has said that the labor market has been defying the gravity as we enter the year’s end. The economist said that the addition of as many as 266,000 new jobs almost all of which (254,000) have come through the private sector has offered a reflection of how the market of jobs has been pulling the unemployed and disengaged out of the sidelines.
Sameer Samana who is a global market strategist has said that the labor market has been continuously robust enough for continuing to give jobs to the new workers. The rates for underemployment and unemployment have been going down simultaneously too.
The numbers usually are inversely proportionate as per him. The moving in tandem can be seen as an indication that a lot of demand is still there for the workforce and there are enough workforces that are able to meet that demand.
The rate of labor force participation is at 63.2 percent and has been at that level for the last four months which shows as per Samana that the U.S. labor market is pretty dynamic.
The job-seekers must take advantage of the market feels Irina Novoselsky. She further added that there are definitely pockets which are growing and there are pockets which have declined too. The trends are different for different zip codes.