For today’s Daily Dose of Business News, is about the article “Recovery Finally Yields Big Gains for Average Worker’s Pay” from The New York Times business section website.
Good news America! Seems that your President-elect Mr. Donald Trump would not have any problems when it comes to labor issues. The recovery from the recession is now being felt by the regular workers through pay hikes. The unemployment rate also of your country improved than the previous years.
But I keep on wondering, does the numbers mean nothing to Americans? Are the numbers only for a show and not necessarily indicate the true condition of the country? Have America really recovered from the 2008 market recession?
While reading on the article, there were a lot of places where the minimum wages have risen, though according to some, they have not felt it that much probably due to inflation, but there were some industries where the salaries have greatly risen like in the field of sales, financial services and technology.
Looks like those fields have lost applicants as a result of the recession. It’s a no-brainer, once the people of a community had a hard time putting food on the table, they would surely opt to spend less on education of their children. Because of the recession, it resulted to less graduates and eventually, less professionals that have the capability to perform such functions. Thus, employers are now more willing to spend for their wages and to maintain their professionals on such fields.
Those who have been able to get their diplomas are very fortunate for they have felt the recovery that much. But for those who weren’t able to finish their college degrees, they are left behind, and majority of the workforce of America was left behind. This was the primary reason why a lot of Americans are still complaining about the opportunities available for them. Yes, there are a lot employment opportunities around the country but those who are applying for the positions does not have the qualifications for the job, something that must be addressed immediately by the President-elect.