BiggnightsUnemployment Rate Falls to Lowest Level in Two Years
April 1st 2011 23:02
The economy continues to deliver good news as the national unemployment rate fell to 8.8% in March, the lowest in over two years.
Most reports attribute the decline to the 200,000 jobs that were introduced into the economy last month. Even more significant is the fact that these jobs were created mostly by private employers, and not the government.
Clearly, this is a sign that the economy is in its recovery stage, and should only get better from here. Unemployment is a good indicator of cautiousness on the market. The United States needs to be active rather than passive in order to resurrect the economy.
That being said, unemployment can often be a misleading statistic. It is essentially an estimate and only takes into consideration those that are actively searching for work. Anyone who has become too discouraged to work is not considered unemployed.
Either way, it's reassuring to see unemployment finally go down. More workers and jobs are what is needed to stimulate the sluggish economy.
Most reports attribute the decline to the 200,000 jobs that were introduced into the economy last month. Even more significant is the fact that these jobs were created mostly by private employers, and not the government.
Clearly, this is a sign that the economy is in its recovery stage, and should only get better from here. Unemployment is a good indicator of cautiousness on the market. The United States needs to be active rather than passive in order to resurrect the economy.
That being said, unemployment can often be a misleading statistic. It is essentially an estimate and only takes into consideration those that are actively searching for work. Anyone who has become too discouraged to work is not considered unemployed.
Either way, it's reassuring to see unemployment finally go down. More workers and jobs are what is needed to stimulate the sluggish economy.
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