According to a current Bureau of Labor and Statistics report the unemployment rate is still hovering around 10%. Even the harsh winter season is shouldering blame for the some of the recent negativity due to a significant amount of missed work. The construction and information sectors posted some losses while there was an increase in the temporary help industry. To break it down a bit further, February unemployment rates for people 25 and older with a bachelor’s degree or higher held at around 5%, while rates for high school graduates in the same group increased from January’s 10.1% to 10.5%, and for those with less than a high school diploma also increasing slightly to 15.6%.
All in all the job market looks about the same as it has for the past several months, and it can be a little discouraging checking in on it, but as stated here recently, it’s important to stay positive during times like these as things are bound to improve. And it appears as though some improvements might be on the way if the recent news from Washington is any judge.
Two weeks ago the Senate passed the roughly 18 billion dollar jobs bill that had been making its round in Washington, and on Thursday, April 18, President Obama signed the bill into law. There is some doubt whether the bill will be effective in spurring the economy.
It is hoped that the new jobs bill will usher in a wave of hiring by giving employers significant tax breaks for hiring previously unemployed workers and credit if they can retain those employees for at least a year. Small businesses also stand to gain with tax incentives for new equipment. Another major facet of the bill, and one that is hoped will create many jobs is a provision for road and bridge construction projects, which will also encompass infrastructure and transportation improvements.
The President was quoted as saying that though the jobs bill, “is absolutely necessary, it is by no means enough. There is a lot more we need to do to spur hiring in the private sector and bring about a full economic recovery.” It is comforting to know that the President acknowledges that while there are some indications that the economy is beginning to climb out of recession, those effects may not yet be felt by average Americans.
Hopefully this bill will be just a part of a greater effort on the part of Washington and the Obama administration to help bring this economy back onto more solid ground.


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