The US Economy created 227,000 jobs in January, the best monthly gain since September last year. Unemployment is now 4.8%, a slight tick up due to more Americans returning to the work force. The survey period these job growth numbers reference are from the final days of the Obama administration. Economists can debate various sentiment factors that indicate possible influence on these numbers by Trump, but it is unlikely that any action by the new administration affected these numbers. The reality is that this is the economy President Trump inherits and will be a benchmark for how he stewards the country.
“With the unemployment rate so low and very few unemployed people looking for work, it’s getting harder and harder for employers to find workers, and that’s driving up wages. This is a solid jobs report.” -Luke Tilley, chief economist at Wilmington Trust
Once again, solid job numbers show that the economy is continuing to improve. Employers should take this opportunity to make sure
that they are staying on top their unemployment costs. While the climate is good, the time is right for companies to shop around to find the best software and most efficient processes to protect themelves from those inevitable changes in the employment landscape. Contact Unemployment Tracker for more information on effective UI cost management.