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U.S. Labor Market Is Shifting Toward Skilled Labor
The evidence can be found in the data, which shows higher unemployment for workers in business services and a lower one for people who work in manufacturing.
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LampLighter
Joined 2013/04/13Visited 2024/05/17
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... America's job market increasingly appears to be splitting into two tracks, economists say, alongside a steady demand for skilled workers and a flagging interest in hiring more "knowledge-based" professionals. The evidence can be found in the data, which shows a higher unemployment rate for professional and business services workers, and a lower one for people who work in manufacturing. "It's a buyer's market for brain and a seller's market for brawn," said Aaron Terrazas, chief economist at the jobs and workplace search site Glassdoor. On Friday, the Bureau of Labor Statistics reported the latest monthly payroll data for the U.S. economy. Total employment rose by 175,000 in April. The unemployment rate rose slightly to 3.9% from 3.8% in March. That came in below estimates of 240,000 jobs for April. The softness in the jobs report was greeted with some positive reactions. Stock futures jumped after the news. Concerns about the U.S. economy have been focused on overheating -- whether inflation will continue to rise and force the Federal Reserve to keep interest rates higher in an effort to slow the economy and bring rising prices under control. ...
The evidence can be found in the data, which shows a higher unemployment rate for professional and business services workers, and a lower one for people who work in manufacturing.
"It's a buyer's market for brain and a seller's market for brawn," said Aaron Terrazas, chief economist at the jobs and workplace search site Glassdoor.
On Friday, the Bureau of Labor Statistics reported the latest monthly payroll data for the U.S. economy. Total employment rose by 175,000 in April. The unemployment rate rose slightly to 3.9% from 3.8% in March.
That came in below estimates of 240,000 jobs for April.
The softness in the jobs report was greeted with some positive reactions. Stock futures jumped after the news. Concerns about the U.S. economy have been focused on overheating -- whether inflation will continue to rise and force the Federal Reserve to keep interest rates higher in an effort to slow the economy and bring rising prices under control. ...
#1 | Posted by LampLighter at 2024-05-03 07:29 PM | Reply
So... the Biden economy seems to be benefiting workers, and not the elite?
#2 | Posted by LampLighter at 2024-05-03 10:49 PM | Reply
This is A Good Thing, something that Republicans should want to celebrate.
No?
#3 | Posted by LampLighter at 2024-05-04 02:11 AM | Reply
"So... the Biden economy seems to be benefiting workers, and not the elite?"
The "elite?"
I don't think Wharton grads are struggling to find jobs...but your definition of "elite" seems overly broad.
#4 | Posted by madbomber at 2024-05-04 09:23 AM | Reply
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Comments are closed for this entry.
Home | Breaking News | Comments | User Blogs | Stats | Back Page | RSS Feed | RSS Spec | DMCA Compliance | Privacy | Copyright 2024 World Readable