Economy progressing, but not as fast as you might hope
Monday, September 16, 2013 4:03 PM
The economy is progressing, if the unemployment rate trend is any indication, but plenty of Americans are still feeling the economic downturn, CNNMoney reported.
The unemployment rate has fallen from 8.1 percent to 7.3 percent in a year, but the share of workers with jobs is still 58.6 percent. It has remained close to that number for several years.
According to Adam Looney, policy director of The Hamilton Project, if the economy continues at its current pace of creating 169,000 jobs per month as it did in August, it will be July 2020 before the job market fully recovers.
A separate article in The Wall Street Journal says U.S. workers can expect to see 55 million new and existing job openings over the course of the next decade.
The hot industries for jobs include health care, leisure and hospitality, professional and business services, technology and information services, business and financial operations, and medium-skill jobs in general, the article says.