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Showing posts with the label unemployment rate

2015 Picks Up Employment Steam- Will You Will Be Getting a Raise?

The American economy is picking up steam and zooming forward. According to the Bureau of Labor Statistics the economy added 257,000 non-farm payroll positions in January ( 1 ). U.S. Labor Secretary Thomas E. Perez characterizes this employment increase as, " 2015 is picking up right where 2014 left off – with strong, steady, sustained job growth that is leading a dynamic recovery " ( 2 ).  Great news that could have an impact on future wages but who will be getting a raise depends on market position. Even though the unemployment creaked up from 5.6 to 5.7% much of this has been attributed to people jumping back into the job market. When people are not searching for work their numbers are not counted. However, as they engage back in their searches and applying the numbers become more accurate as previously unaccounted for people rejoin the statistical measurement. The value of labor is determined in part by the availability of labor; lower unemployment numbers are good. T