According to a recent report, in the month of February, the United States could only build 20,000 jobs, which was contrary to economists’ estimates, which predicted an increase of approximately 180,000. The United States is seeing the record of the lowest increase due to the Irma and Harvey storms which had shaken the country in 2017.
Speaking to one of the news channels, Ian Shepherdson told reporters that the expectations of 180,000 new jobs were very high. He also said that this happened because government employees were counted twice, who had opted for another employment during the American shutdown. Mr Shepherdson further commented that although at present the US is dealing with the crisis of the economy slow, but in the month of March a certain increase in jobs can be seen.
Statistical data also clearly indicate that the average earnings of employees in the US increased by 3.3% and the unemployment rate has decreased by 0.2%. America’s manufacturing sector was worst affected because the number of jobs had fallen to 31,000. Talking to the reporters, Kuli Samara said that although the US is dealing with a job crisis, its position is commendable when someone compares it to the rest of the world.
Shri Samara further said that at present, it is not clear whether the businessmen are becoming very cautious due to the decline in the economy or it is another way. In contrast to officials’ statements, Michael Pierce said that obvious losses of jobs and slow payroll can be assumed that the rate of growth in the current quarter is very low. Mr. Pierce also said that the slow economy is a broad indication that the federal department will not increase the rate of income tax.