With an unemployment rate of 5,6%, according to BLS estimates from the latest payroll report, the economic situation in the US perfectly match the targets of the US Federal Reserve System on unemployment (near 6%) and an inflation rate (about 2%). It is interesting that some other countries (China, for example), fits into that criteria well enough too (look at the first bubble chart). It has to be said that unemployment rate of 6% does not mean that only 6% of the adult population do not work. In fact, speaking about US, more than 40% of adults is not employed (look at that employment to population ratio indicator from the World Bank data, showing overall burden on earners). And the "unemployment rate" shows only the fraction of the actually not employed who want to work and are looking for a job (according to International Labour Organization "unemployed person" definition). The number seems large, but compare it to one of the Greece, Spain or Italy, where the majority of working age population earns nothing. No wonder to see the debt of those countries skyrocketed.
Compare the countries and see the historical trend in unemployment rate and employment population ratio on the graph below the page.
Note: please be aware that in the countries with the significant share of population practicing some tradition religions such as Islam, women adhering to the traditional views being actually working, does not report as "employed" for the religious reasons. Thats partially explains low levels of employment rate conjoined with low level of unemployment rate at the same time in such countries.
The number of new jobless claims reported weekly to the U.S. Department of Labor is considered a leading forward indicator for jobs growth in the US labor market and is thereby linked to expectations for economic growth and potential moves by the US Federal Reserve to increase interest rates. According to the most recent data:For the week ended 8 April, the number of initial jobless claims - e.g. new jobless claims - decreased by 1,000 to 232,000, nearing the 227,000 reported in March. Whereas initial jobless claims decreased, the total number of persons receiving unemployment benefits - e.g. "continued claims" or "insured unemployment" -...
Private-sector employment increased by 234,700 from January to February on a seasonally adjusted basis according to the ADP National Employment Report. Most Recent Report | Monthly Growth
Across the middle-income countries of the developing world, policy makers are keenly aware that increased longevity and aging populations will place significant and growing burdens on working age adults in the near future. Event holder: The World Bank
The 16th Asia and the Pacific Regional Meeting (APRM) of the International Labour Organization (ILO) will bring together the ILO’s tripartite constituents from throughout Asia, the Pacific and the Gulf and Arab states. About 450 people are expected to attend. Government ministers, representatives of workers' and employers' organizations, and academics from about 40 countries will discuss regional world-of-work priorities and the ILO’s vision for realising decent work from 2016 to 2021. Event Holder: International Labour Organization Source of data: World Development Indicators (WDI), July 2016, Economic Outlook No 99, June 2016, The...