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U.S. Unemployment Rate Seems to Be Beating Predictions

Well-known Chinese news site Sina recently reported that, although U.S. economic growth can only be called “modest,” it seems the U.S. unemployment rate has, unexpectedly, been going down over the past seven months. The job market numbers saw growth in the last five months. The rate of job growth is double the required rate to sustain long-term stability. Even those who are not actively looking for a job have gotten “sucked into” the working population. The market analysts have been expecting a slow-down in job growth since the unemployment rate was already at a low level. Experts are trying to explain the “unexpected” good news for the U.S. job market. The generally agreed upon explanation is that there has been steady consumer spending, high expectations of results from of the Trump tax-cut, stable oil prices, and the growth of U.S. exports. However, according to Bloomberg, the latest unemployment statistics did not include the impact of Hurricane Harvey.

Source: Sina, August 31, 2017