The US job market is under the influence of election policies and stock market players’ games.
Not long ago, just a few months ago, the increase in unemployment in America exceeded the 4% desired by large and medium American investors.
Low unemployment and the hot job market, accompanied by an increase in employment and wages, were supposed to be the phenomenon of Biden’s economy, and his enthusiasm for creating jobs turned him into one of the most successful presidents in American history. The wave of employment reduction means slowing down the financial cycle of wages paid by employers and received by employees, which leads to reducing inflation.
The golden point of inflation is understanding the fact that employee wages are costs that the employer pays and an expense, like the daily expenses of citizens. Increasing worker wages can be a significant factor in increasing inflation if all the repercussions of this increase are not controlled.
In any case, Federal Reserve Chair Powell has repeatedly referred in recent months to the heat of the job market and its impact on inflation. The first signs of slowing employment growth have led the Federal Reserve to not consider raising interest rates once inflation falls below 4%. Now everyone is waiting for the first interest rate cut as unemployment in America is now above 4%.
A two to three-tenths increase in unemployment created a wave of news that raised concerns about an impending economic recession.
It soon became clear that this alarm and unnecessary panic were unfounded, but some statistics indicate a particular concern about a segment of the workforce.
The Federal Reserve Bank of New York has received in its recent survey that the number of Americans considering changing jobs, whether employed or not, has increased from under 20 percent to over 28 percent compared to last year.
Expectations of unemployment have also grown in another survey, with 44 percent of respondents considering the possibility of becoming unemployed from their current job. There are no signs of a recession in America; the economic growth of this country has been higher than other industrialized countries, and under normal conditions, this level of unemployment was actually desired by investors and the Federal Reserve.
A wave of negative news, using these same statistics to create shock in the stock market, spread widely and led to the infamous Black Tuesday. The tension imposed on the mindset of American workers is only a part of the pressures they face.
Providing guidance on the current state of the US economy, which is a key tool in Republican election campaigns, has undoubtedly played a significant role in instilling fear and creating misconceptions among American workers. Workers and employees, who we all are, need maximum reassurance and peace of mind.
Destructive and profit-seeking politics exhaust and incapacitate the workforce.
Persian
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