The United States unemployment hits the lowest level since 2001.
In 2017 the job market in America has been losing stream. According to CNN news, the United States economy has added 138,000 jobs last month, less than the 174,000 jobs gained in April, it is also lower than expected. It is a very disappointing number in the country involving the economy with the job market. Lynn Reaser, an economist at Point Loma Nazarene University in California says “The economy is still growing, but the job market has lost some momentum.”
According to CNN news, the unemployment rate dropped to 4.3 % in May 2017. It makes the unemployment rate the lowest level since May 2001. The drop in the unemployment rate wasn’t for good reasons.
Many American citizens stopped looking for work while the number of people who currently have a job fell too.
It has been said by financial experts that the job growth is slowing down after three straight years of job gains. The American economy is worse than before. According to Michael Synder who is the editor of the Economic Collapse blog says the economic growth for the first quarter will be zero.
As the economic activity slows down, thousands of retail stores are closing, factory is falling, restaurants and automakers have been falling on hard times. United States government revenues have dropped. In 11 Facts That Prove the U.S Economy In 2017 Is in Far Worse Shape Than it was in 2016 article by Michael Snyder, it was said that there are 8,000 retail stores closing this year, the number of retailers that have filed for bankruptcy have surpassed the total for 2016, restaurants are experiencing tougher times than the last recession and used vehicle prices are crashing. Also, nearly all the automaker have reported disappointing sales in the month of March 2017 , The U.S Government has suffered their biggest drop since the last recession in 2017 and most consumers are tapped out .
The job market as far as more jobs being created can be larger and more Americans should go out and get more jobs as well instead of just quitting and having nothing to fall back from after their previous job. President Donald Trump is a complete idiot who should know that the United States’ economy should be the main priority for this country. He is putting the focus more on things that will only damage the country instead of helping to lift it up from off the ground. Trump is funding the government money with things that are only important in his eyes. For example, the wall and security at the United States – Mexico border the Trump administration wanted a lot of the country’s money to go towards are really costly and unrealistic. It goes against Trump’s promises during his campaign saying it can be done. If Trump was a good President who actually cared about making America great again he would prioritize the budget more effective by using it for essential things the citizens need like healthcare, education and the job market which is dropping at a fast rate .