Unemployment Rates Lowest Since the Recession
More good news for Americans in need of jobs: unemployment rates fell once again in October, giving us the lowest rates since before the recession.
The numbers were published in a recent article by USA Today, and as they stood at the end of the month of October, the unemployment rate was at 5.8%. That means that for the first time since 2008, unemployment rates are below 6%, a huge milestone in America’s recovery from the recession.
Now with the improved labor market, the average monthly job growth is rising above 200,000 this year as the unemployment rate continues to shrink. There is expected to be growth in available positions for jobs at all skill and pay levels.
The country has truly come a long way in the past few years — not so long ago, unemployment numbers were reaching their highest points in decades, and hope for a reasonable timeframe of recovery from the effects of the recession seemed bleak. Those who are currently on the hunt for jobs are now able to benefit from a much wider selection of types of positions and employers who have the luxury of being able to hire more people than they have in years.
For the foreseeable future, it would appear that these trends are likely to continue, meaning that people seeking jobs will continue to be able to benefit from increasing availability of positions.