Newsroom & Financials

Outlook on the U.S. Jobs Market

Posted 12/17/2013

The U.S. economy is exhibiting signs of improvement when it comes to jobs as 2013 draws to a close. In November, the unemployment rate improved three tenths of a point to 7.0 percent from the prior month, its lowest level since late 2008.

Economic observers cheered the news, while investors wondered whether unexpectedly strong job gains will prompt the U.S. Federal Reserve to begin dialing back its monetary stimulus programs.

From a historical perspective, however, the employment picture remains weak. The labor force participation rate continues to hover at 35-year lows, and job creation continues to be hampered by the new health care law and other political and regulatory uncertainties.

For an update on the overall situation in the United States, OUTLOOK turned to economist David Hale. Hale is a Chicago-based economist whose clients include asset management companies in North America, Europe, Asia, and Africa. He is the founding chairman of David Hale Global Economics and previously worked as chief economist for Kemper Financial Services and Zurich Financial Services.

To download Outlook, click here.

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