Lowest Jobless Rate in 5 Years Raises Chances of a Fed Move

Finally! Good news about the United States Economy. Nelson D. Schwartz wrote an article that has been published on December 6th in New York Times for all to read. The unemployment rate is finally beginning to decrease- and quite dramatically may I add. The Labor Department spread good news about the 7 percent decline in the unemployment rate which seems to be just the beginning of good news.

Since the Great Recession, we haven't seen an improvement in unemployment quite like we are seeing now. We also haven't heard good news from the white house in a while, either. It seems that the good news about unemployment just kept getting better. We begin to observe the increase in many other areas throughout our economy as well. Economic growth started making an upward revision in positive correlation with increase in employment. A small increase in manufacturing has been reported along with the other two revisions recently taking place.

With the good news comes the sad news.. Due to the decrease in the unemployment rate, the government is considering easing back on its stimulus efforts. Although the changes won't be made until beginning of 2014, it is still concerning to many Americans. No one is ready to see a change in the unemployment rates. We want them to keep going down, and if the government decides to ease up there is a chance that these rates could start heading in the opposite direction.

The improvements in unemployment caused a change in several different aspects of the average work criteria. For example, with an increase in employment we have observed an increase in hourly earnings, as well as an increase in the length of a typical work week. Another positive observation is that the increase in employment has been taking place in both the private sectors as well as the public sectors.

The best part about the positive change in our economy that is taking place is the increase in jobs across the board. We have not observed an increase in one particular area, we have observed an increase in several different job areas. These jobs include manufacturing and construction, and other jobs both in services as well as the goods-producing industries. This article gives hope to many Americans that our economy is turning around. The only fear for some is that if the government eases up on its stimulus efforts, the improvement may come to an end. Although unemployment still remains an issue, we are hopeful that things can continue moving forward from here.