Even with the promise of 161000 jobs in the United States that helped drop the unemployment rate, this is something that the elected president this Nov. 8 needs to tackle to add more gainful employment to US citizens.
While there was a reported drop in the US national unemployment rate of 4.9% in October from the previous month, according to Trading Economics, it was only a minimal slide of .1%, which many analysts believe could be marked with better performance by increasing the number Americans that are actually employed rather than just having that job opportunity lying around.
Even then, with these job opportunities made available and a sign of a strengthening US economy, it fell short of expectations from employers in their forecast of supposedly adding 173,000 jobs by October. Industry analysts are saying that while economic growth is trending up, it is still short of the signals that reflected the pre-2008 economic boom.
This poses as the next big challenge to the incoming US president post-Nov. 8 as the ballots are cast. The scenario is expected to rest heavily on the shoulders of the new president on how to address the need to provide not just more employment opportunities to Americans, but also how it could realize the actual hiring of workers to fill in these spots.
The slowdown, according to many economic analysts, may be due to election jitters that caused businesses to hold back on spending due to uncertain economic policies that are yet to be implemented by a new US administration.
Consumer spending in the US, according to Bloomberg, grew by 0.5% and shared its contribution in the economic boost, as trade and commerce saw growth in spending with auto and property sales, which may have accounted for the average hourly earnings that went up by 0.4% or an equivalent of $0.10. Economic experts are hoping that this challenge to raise more employment opportunities is heeded and addressed by the incoming administration.
