2011 has been a surge to the US economy, with new and more jobs being created at a slow but steady pace helped diversify the situation. Where Europe showed a further rise in the rate of unemployment, US showed a slow but a drop in the rate of unemployment.
Unemployment is no more a political situation that can be handled by sitting in the assemblies, its more like a disease which is spreading and slowly gripping the world’s largest economies with its affects. Nearly every big country is becoming a slave to unemployment, in such scenarios the governments policies and laws are very mandatory for their citizens and their well being.
Labor Department New York announced that 2011 has seen 216,000 new job recruitments and will further see at least 190,000 new jobs opening in the market. These new statistics has shown a drop of 8.8% in the rate of unemployment. The New York job report has shown that the expected expansion of the US economy will precede the way in solving the longest persistent problem seen by New York in the last decade.
Past seven years has shown a considerable rise in the manufacturing industry I US leading to increase in the demand of labor and helping aid the economic growth rate. The considerable drop in the rate of unemployment has seen a change only because the labor market in New York has seen a sudden change in the job availability market.
Small and medium sized manufacturing units too have shown a need and sudden rise in their hiring process. Not only have the jobs in New York risen but also there has been a rise in the over all earnings of the companies and salaries of the labor class.
New York’s labor department report also showed that there was a rise by 0.8% in the hourly earnings of the workers. Year 2001 had shown a steep decline all over the globe, New York the business capital for America was also not spared with this grave problem, but the government has said to make life a little more stable with the introduction of unemployment insurance.
New York job situation is not as adverse as the situation in Europe, the people here were still willing to get their jobs back and work harder to get the New York job scene back to normal.
Although New York is the financial hub on the East coast for the USA, there is an overall improvement in the job situation in the USA. This is an indicator that USA is out of recession. Though many pundits are still debating over it, the situation does seem to be easing out. More opportunities are available for part time, full time and temporary jobs all over the US. The government is taking adequate steps to pitch in wherever possible and create conducive environment for employment. This includes providing more industrial permits, tax relaxation for more employment, etc.
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