The United States is starting to recover bit by bit after the 2008 recession. Hiring has risen to its nine-year high this February 2016. Some say it is a sign of robust business demand as the need for new workers continue, as told by ABC News.
In summary, a total of 5.4 million Americans have found jobs which is a 5.8% jump from January. However, it is interesting to note that, according to the Labor Department, more Americans also quit their jobs.
Breaking it down, there were 215,000 positions filled in March alone and the unemployment rate rose from 4.9% to 5%. However, this is not a negative sign. The increase in unemployment rate came from the fact that more Americans began hunting for jobs, though not all were immediately hired. That pushed up the number of unemployed, despite the job gain.
This in-and-out numbers have shown that the labor market has become healthier compared to recent years.
Businesses are still careful though, choosing to slowly increase hiring instead of acquiring new workers in huge numbers. It is still positive to note that the American economy is slowly slipping back to its previous numbers - pre-recession. Analysts have suggested that businesses are more confident about the economy's state.
It looks like job growth and economic healing is well under way. Analysts have forecasted that the economy will expand at just a 1% annual rate or less in the first three months of this year. Being careful, companies are still wary about the cheaper gas prices and wage increase in the country but they are confident on the fact that it will boost consumer spending. Consumer spending means the service industry (banks, hotels, tourism, etc) will grow more quickly.
Check out the JobsNHire which reports that 2016 is the year of the job market.
