The U.S. Labor Department proclaimed that for the first time in the history of the country, the number of job openings is greater than population seeking for jobs.
The national unemployment rate of the U.S. was only 4% in June 2018. It was increased by 499,000 to 6.6 Million. The rate of unemployment was 4.3% in an earlier year, with 7 Million people facing unemployment issue.
The Labor Department reported that an increase in jobs is seen in the professional & business services, manufacturing, and healthcare sectors. It also added that the retail trade, however, has lost the job opportunities. This denotes that the job market has leaned in the favor of workers rather than companies. For the first time in some industrial areas, its potential employees have more prospects than employers.
Soon, there will be an increase in the job opportunities in the region. Staten Island will be introducing about 8,000 jobs, as various new businesses such as Amazon are planning to expand there. The Labor Department proclaimed that worker groups with the most increase in unemployment rates include 3.7% increases in adult men, a 3.7% increase in adult women, and 3.2% increase in Asians.
However, it added that there was no or very minute change in rate for unemployed teenagers (12.6%), whites (3.5%), blacks (6.5%), and Hispanics (4.6%).
On a related note, recently the White House announced a plan to unite the Education and Labor departments. It asserted to rename the merger of these departments as the Department of Education and the Workforce.
The Office of Management and Budget proclaimed that the proposal would let the federal government tackle the educational and skill needs-related issues of the American students and workers in a synchronized way. Further, it added that the restructuring will eliminate the repetition of work.
Before turning out to be a full-time writer and editor, James Tidwell was a blogger who wrote his outlooks and viewpoints relating to Entertainment and Sports. Owing to his interest and absolute fineness of playing with world beautifully, he was appointed to dabble in Entertainment and Sports world.