142,000 Jobs Added to American Economy
Around 142,000 jobs were added to the economy of the US in August as unemployment rates fell from 6.2% to 6.1% in a shift that sees America further strengthening its already immense economic powers with greater job creation pulling more money into the country.
As the world’s largest economy, America already has some pulling power behind it but within the last twelve months the country has been averaging job creation at around 212,000 per month and one of the main contributing factors to a slightly smaller gain this month is a slowdown in supermarket hiring due to a now resolved strike issue.
Wage growth has also ticked up slightly in August with average hourly earnings now growing at 2.1% year over year. Employment in the car industry also dipped less than expected, as fewer workers were laid off for factory retooling.
It has been job growth in the professional and business services that have been leading the recovery charge with an additional 47,000 jobs added in August bringing the yearly total to 639,000. With more employment opportunities available in the United States this could also see further investment in the American economy and greater opportunities for those seeking work, especially skilled workers.
This diversity in growth areas also shows that the impact is far wider than just investment in a single area but is a sustained trend throughout all areas of the economy and would suggest that the availability of work is open to all sectors.
This swell in numbers would suggest that America is creating jobs at a faster rate than expected and thus the economy is heading for a surge in the coming months and with the growth forecast being revised up at the end of last month, now could be the perfect time to relocate stateside to make the most of the impending growth.