ECONOMIC RECOVERY ACCELERATES BY ADDING 531,000 US JOBS

On November 5, 2021, the Department of Labor reported that 531,000 US jobs were created during October, as the American economy continues its expansion. The impressive increase of jobs in the USA beat the expectations of economists and follows the 312,000 US jobs that were produced in September. The Labor Department also reported that the national unemployment rate sank even further to just 4.6 percent. Among all of the new jobs in America were 100,000 positions filled in the business and professional services sector; 60,000 manufacturing jobs; and 54,000 workers hired in the transportation and warehousing sector. The ongoing worker shortage in the United States is resulting in higher wages for people working in America, as employers try to attract and retain employees. President Joe Biden declared, in response to the US jobs report, that “America’s getting back to work” and further stated that the economy is benefiting more people and is “on the right track.” To read more, click here!