The Bureau Of Labor Statistics Essay

The unemployment rate has dramatically increased over the last several months. This increase has created many complications for the American people. Although the United States economy has created over 7 million jobs, there is still a long way to go until the economy is back on track.

The United States is not only one of the largest economies in the world, but it is also one of the strongest economies compared to industrialized countries, and this has been proven in the last few years. Despite of what many people believe or see, U.S economy is booming and it will continue to boom during the year 2015. In the article “When the U.S Economy is the Envy of the World,” published by the MSNBC on December 8, 2014, its author Steve Benen argues about the U.S economic recovery in order to persuade U.S citizens and show them the numbers that prove that our economy has recovered. Benen (2014) also encourage U.S citizens not “to compare the current economic recovery to other recoveries that followed modern downturns,” but “to compare our economic recovery against other countries who dealt with similar circumstances” because according to President Obama, the U.S “has put more people back to work” than any advanced economy in the world (qtd. in Benen, 2014). There are strong evidences that prove that the U.S economy is in its best year compared to three years ago. The growth of jobs, the slight increase of wages, and the low price of oil have truly helped the U.S economy recover.

As John Wihbey states in his article “Minimum Wage: Updated research roundup on the effects of increasing pay” if the Fair Labor Standards Act were to have increased at the same rate as inflation the minimum wage would be around $10.00 per hour. This article is once again stating that the minimum wage should be increased. Yes, I do find that increasing by nearly $3.00 per hour is a little outrageous but, I do feel that the minimum wage could see a slight increase to around $8.00 or $9.00 per

From what is supposedly being shown in papers and on the news the U.S. economy is currently concerned about unemployment, caused by the recession. This “current macroeconomic situation” is pardoning my language freaking a lot of individuals out, because some have no idea of how it is going to get better. The news/media is not painting us such a pretty picture of it, by calling it “this decade’s depression”. The unemployment rate is at 8.2% as of July 2012, whereas the average in 1948 was at 5.6%.

The health of the current U.S. economy appears to be growing gradually. The second quarter real GDP growth was 3.7% and the unemployment rate declined to 5.3%. The U.S Federal Reserve (Fed) is expected to raise interest rates in the near future when it sees clear signs of strong economic growth and improvements in the job market.

The American labor union has failed in its duty to protect the employees. Currently, most of the public unions agree to the plan that every worthy benefit or wage ought to be balanced by the union’s special consideration like agreeing to a two-tier salary scale, surrendering some hours, raised copays or even deductibles for medical procedures. However, these associations have done little to fight for the workers when they are faced with salary reductions, poor pays, unwarranted cutbacks and when they are denied compensation for retirements or injuries. According to Aronowitz, the US labor movement has continued to deteriorate and lacks the voice it had some times ago. By 1990s, the labor had already decreased in intensity from the higher 35 percent membership in 1953. This is just an indication that workers have no hopes in the then merged AFL-CIO (American Federation Labor-Congress of Industrial Organizations) who sought to democratize the labor movement. Their so-mediated organizing model that aimed at expanding the membership was a change of the core role of the previous service model of unionism that focused on petitioning for the members’ requests. Where the distresses may have begun earlier in the 1970s, it was not until the era of Ronald Reagan that the impact was felt. Since then, members of the labor unions have turned to be mere clients. The restructuring of the economy through technological change, and company merges, so millions of workers lose jobs. However, the

Minimum wage is now at a steady $7.25 per hour and shows no sign of increasing anytime soon. There are states right now at the time that are trying to raise the minimum wage, and see how this will effect the economy of the area.

The unemployment rate averaged 8.5% in 1975, almost 10% in 1982, and has been above 8.8% for more than two years, with little evidence of any improvement ahead.”

The recent job growth is impressive with an increase in 3.4% though the unemployment rate is still at 10% (U.S. average is 5.2%). With this recent increase, there is

Five years after the end of the Great Recession, there is finally some cause for optimism. GDP and employment growth are modestly increasing and manufacturing is bouncing back, in large part due to growing exports.

Is the United States economy doing well since the Great Recession? It is, according to economic data. I base my argument on the answers to three states concerning the health of the macroeconomy. The first goal is that of full employment. Full employment is a state in the economy where virtually all who are willing and able to work are employed. The second goal focuses on economic growth, or the growth of our GDP. This is the value of all finished goods and services produced in the United States in a given time period. Good economic growth can be measured by the rate of growth of the GDP. The third goal seeks price stability. Is the value of the dollar inflating, deflating, or staying constant? If the answers to these questions are positive, then it can be stated that our economy is in good shape.

The recent decision made by the National Labor Relations Board granted collective bargaining rights to graduate student workers and researchers. The focus on the decision was primarily based on the wording or a statutory employee as defined in Section (2)3 of the National Labor Relations Act and ultimately the reversal of the 2004 Brown University decision against the groups legitimate reasoning and desire to unionize. University administrators were against student worker unionization and cited that academy freedom would be encroached on as well as a deteriorated student-faculty relationship. Proponents to the decision cite poor wages, limited access to healthcare and respect as well as empirical evidence discrediting administrator’s claims as making unionization the most viable option.

President Obama wants Congress to pass a law that requires an increase in minimum wage to 10.10 an hour. Congress continues to stall in this matter. Fourteen states have already raised their minimum wage rates as of January 1, 2016. There has been positive growth in these states. One reporter writes, "In the 13 states that boosted their minimums at the beginning of the year, the number of jobs grew an average of 0.85 percent from January through June. The average for the other 37 states was 0.61 percent” (NPR.org).

• As previously stated in the executive summary, the United States’ economy is currently stagnating. From week to week we may see a rise in one indicator while there is a fall in another indicator, but none of the rises or falls are drastic enough to have an overwhelming impact on the economy as a whole. Although the economy is not near as strong as it was before the 2008-2009 recession, arguably one of the biggest economic crises of the past decade, there has been much growth and strength throughout the past few years with this year being the first year in which the economy is in somewhat of a holding pattern. I believe, that even with the little growth and movement of the United States economy over the past year, it is still perhaps one of the strongest economies in the world at the moment.

Force Participation Rate (LFPR) is an economic algorism that is used to measure active portions of the economy labor force. The numbers of people who are looking for work or are employed do represent the participation rate (O'Lawrence, 2015). Due to different economic factors that are included in this discussion the number of those seeking for Job or are employed do fluctuate. The participation rate is paramount to analysis of employment rate in a country or geographical regions.