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Essay On Unemployment

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At the national level, the U.S. created 222,000 new jobs in June 2017 as hiring accelerated in the spring, showing that companies are still finding ways to add staff despite a growing shortage of skilled workers. The national unemployment rate, meanwhile, rose to 4.4% from 4.3% as more people entered the labor force in search of work. The jobless rate had fallen to a 16-year low in May 2017. Orange County’s unemployment rate was 3.8 percent in June 2017, below both the national average and June 2016’s rate of 4.3 percent.
The job market remains in generally good shape eight years into the economic expansion. However, underneath the surface, unprecedented changes caused by new technologies and innovative new ways of utilizing technology …show more content…

A severe lack of affordable workforce housing affects Orange County’s future economy in several different ways; the regional economy can overcome this challenge or face declining competitiveness depending on how current stakeholders and policymakers address this issue. Finally, positive overall job growth may mask the lower quality of many of the new jobs being created in Orange County.
All of these trends have significant implications for Orange County’s education and workforce development systems. The Orange County Development Board and Orange County Business Council’s 16th annual workforce indicators report seeks to prepare the region’s workforce stakeholders – from CEOs to college administrators to entry-level workers – to face these issues and preserve the competitive advantages that have been – and are -- the foundation of Orange County’s economy.
How should local policymakers, businesses, and educational institutions respond to the changes and trends outlined in this report? First, they need to recognize where Orange County is potentially vulnerable. While the skills gap, for example, is a nationwide issue, it may particularly affect Orange County because of its relatively poor ability to retain young workers and key industries in fields disproportionately affected by this trend. The regional economy also may have

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