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can you please help me to respond to this blog please Accoridng to the beaur of labor statistics 390,00 jobs were added to the U.S.
can you please help me to respond to this blog please
Accoridng to the beaur of labor statistics 390,00 jobs were added to the U.S. ecconomy in May, with unemployment rate at 3.6%. Although this number is good considering the state of the economy, it is the lowest increase since April 2021. Leisure and hospitality jobs saw the largest increase, likely to the slowly down of COVID concerns as people travel and vacation more. On the other end of the spectrum, reatil trade saw a loss of 61,000 jobs. According to the BLS household survery labor jobs have not returned to their prepandemic numbers, a stunning 440,000 below in fact. Average hourly wage increased by 0.3% from April, again lower than anticapated but still a sign of things continuing forward. All the numbers suggest that the Federal reserve interest rate is expected to get higher and job markets are expected to slow. Outside forces are also imaocte the U.S. economu such as the War in Ukraine and the COVID restrictions set in place in China. Inlfation is at it's highest in the past 40 years, spefically in regards to the gas prices which are at a record high (over 56% increase since last year). The Federal Resever estimastes that the economy will only grow by 1.3% in the second quarter. The govrerment is trying to slow down inflation with a series of interest hikes. My article discusses unemployment and inflation, by illustrating how despite a continuing increase in jobs the labor market is not in equilibrium and therefor not operating at a sucessful level. In other words we are not producing the maxium goods and services as we could. Due to high inflation rates the U.S. economy is expected to how a low economic growth. This is all suggest that our economy is currently not operating well. Unemolyment and inflation are two main principles of macroeconomicsStep by Step Solution
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