The Guardian reported that The American unemployment rate has decreased by 4.3 percent which is the lowest since 2001. The U.S. economy introduced 209,000 jobs in July which showed the growth in job sector in the U.S.
Donald Trump completes his promise to recreate the US job market
Economists forecasted that the U.S. would introduce 180,000 jobs in July, but the results are beyond those expectations. In the U.S., 153.5 million Americans are employed, which is a very high rate, and CNBC reported that the employment-to-population ratio has also increased to 60 percent since 2009.
This is the good news for Donald Trump who promised to create more jobs during his presidential campaign. On Friday, he tweeted about the new job opportunities, saying, "Toyota & Mazda to build a new $1.6B plant here in the U.S.A. and create 4K new American jobs. A great investment in American manufacturing."
According to the Labor department, previously there were 222,000 jobs but in June, the employment gain was reaching up to 231,000, Reuters reported. Since July, average hourly earnings increased nine cents and it is the biggest increase in the last five months. For 82 months, the job rate is continuously growing (which goes back to President Obama's tenure). The US economy has added 1.01 million jobs since Trump was elected as the new president.
According to The Guardian, the US economy mainly focused to increase low paying jobs. 53,000 jobs were added to drinking establishments and food services and 313,000 jobs were added to that industry this year. 39,000 jobs were added in health care services. There was not much growth in high paid jobs like construction, mining, and manufacturing.
Economists say the US economist growth is at risk
According to CNN, many Americans should find work as the rate of unemployment stays low. The chief economist at CUNA Mutual Steve Rick said, "there's still lots of people coming back into the labor force, looking for jobs."
Last year, around 27 million jobs were given to the foreigners who came to the US for employment.
After Trump's immigration law, the growth in the job market is the good news for The American workers because the number of jobs reserved for foreign workers was decreased
According to Rick, if there are fewer workers in the America, the economic growth of the country would be at risk. According to CNN, President Trump promised to increase economic growth by one percent.
