Stage Seven: Original editorial or commentary #2(POST TO BE GRADED)
Recent economic statistics have shown that during the month of April, employers around the US hired roughly 290,000 new employees last month. James O’ Sullivan said “This is unambiguously a strong report for growth implications”. Additional statistics published by the Department of Labor show that there have been over 573,000 jobs filled over the past four months. President Barack Obama had a few things to say after hearing the report, “very encouraging, steady growth in the economy is starting to give businesses the confidence to expand.” However, he also said that “it’s going to take time to achieve the strong and sustained job growth that is necessary.”
Unfortunately, despite all of these new jobs there are still noticeable amounts of problems in the housing industry, financial markets, big budget deficits, as well as a general loss of wealth in households. Most economists describe this not as a large sprint forward, but an increase in momentum for an already stable situation. Additionally, the unemployment rate of the nation actually rose to 9.9%, however, officials explain this is because “When jobless people do not look for work, they are not counted in the official unemployment rate.” That essentially means that there is a higher increase in unemployment, because there are now more people trying to get jobs, and not succeeded, unless citizens are not looking for a job, they are not counted in the statistics.
Another statistic worth notice is that, in April, 45.9% of all unemployed people had been jobless for 27 weeks or more, a record high, says the Labor Department.
On a personal note I found this new report to be very inspirational, especially since I am one of the new employees from last month, after nailing my first job working at Culver’s, for well above minimum wage, and I am very happy with it. This looks to be very promising news of an economy that has always bounced back from a hard spot. I just hope all of the American people can make the right choice, and continue to move us forward.
-Derek Rider
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It is hard to say after reading this if it is encouraging or not. I mean it was really good to read at the begining that so many people are getting new jobs recently, but on the other end, if the unemplyment rate is actually raising, there can be confusion in that. I guess there are so many people who lost their jobs a long time ago have been living by the government for too long now and are realizing now that they need to get off their butts and get a job and once out, they realize they can't find one and yet live on the government in a different form. But at the same time, we need to just be happy with the small progress we have made thus far. We have been having economic problems and unemployment problems for years now so the change is not going to happen over night. It is going to take time and as unfortunate as it is, we just have to hang on for the ride and make the best of the hard times.
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