New Employment Trend Threatens U.S. Economic Growth
The Bureau of Labor Statistics (BLS) reported that 162,000 jobs were added to the U.S. economy in July. The unemployment rate registered at 7.4%; in June, it was 7.6%. (Source: “Employment Situation Summary,” Bureau of Labor Statistics web site, last accessed August 2013.)
Looking at this, one must ask the question: is this a good sign for growth ahead in the U.S. economy?
On the surface, the picture does look rosy. The unemployment rate decreasing is actually a good sign, but sadly, there are some fundamental issues with the jobs market in the U.S. economy that need to be fixed before economic growth can fully take place.