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The Wall Street investment bank says the unemployment rate is likely to fall to 3.5 percent by the end of 2019. In a report issued last week, Goldman’s economists predicted that unemployment would keep falling because of increasing optimism helped along by tax cuts. Wage growth should also pick up, the bank said.
“Such a scenario would take the U.S. labor market into territory almost never seen outside of a major wartime mobilization. The U.S. would have undergone a transformation from the “weakest labor market in postwar U.S. history” in the early years of the Obama administration to “one of the tightest.”
Goldman sees U.S. growth in the next couple of years as the highest among developed nations.
Companies should be encouraged to hire older American workers who have lots of experience and a great work ethic but won't necessarily price themselves out of the market.
So in a period of labor shortage, laborers should voluntarily accept lower wages? What sense does that make?
I do believe the trend of older workers putting off retirement will continue and some who have retired may be drawn back into the labor market. Older workers working part time is one of the reason the number of workers working part time for non economic reasons continues to remain high, while those working part time who want to work full time continues to fall.
In accordance with market principles via supply and demand, we should see wages going up then, but that is not happening. I would take anything Goldman Sachs says with a grain of salt because their criminal history speaks for itself and they are also a major part of the political elite establishment.
We still have 45 million people on welfare, 91 million out of the workforce..
Subtract old and young not capable of working and you would be lucky if half the population has a job and of those maybe two thirds are full time.
A better indicator to look at would be Shadow Government Statistics - Home Page.
It has been a pretty reliable source as pointed out during the Obama years by many.
Shadow Stats methodology is severely flawed. The majority of 91 million (and the current number is 95.3 million) are either retired, disabled or students. Of those 95.3 only 5.1 million say they want a job; they are included in the out of the workforce because they are not looking.
The Wall Street investment bank says the unemployment rate is likely to fall to 3.5 percent by the end of 2019. In a report issued last week, Goldman’s economists predicted that unemployment would keep falling because of increasing optimism helped along by tax cuts. Wage growth should also pick up, the bank said.
Goldman wants you to think everything is fine so that you buy on credit this Holiday season, to your destruction.
There is no economy at all in the United States. If there was, interest rates would rise on their own as businesses borrow for fresh factories, inventories and storefronts.
The Fed wouldn't have to push them up to preserve appearances.
The numbers are meaningless since they don't take into consideration those millions who have been washed out of the system. Obama lied about his good numbers and now Trump is continuing the fiction.
---“Mass immigration to the U.S. has been at the expense of American workers in the working and middle-class who have been forced to compete with foreign labor while their wages have remained stagnant.”
---“Foreign nationals now outnumber Americans in high-paying, high-skilled, white-collar jobs in Silicon Valley, California – the hub of the United States tech industry.”
---“Silicon Valley Leadership Group President Carl Guardino touted the statistic in a report, revealing that 57 out of every 100 jobs in Silicon Valley that require at least a bachelor’s degree are taken by a foreign-born resident.”
103,000,000 USA “work capable” OUT OF THE WORKFORCE, and we all believe “GOLDMAN SACHS” predicting 96.5% employment thanks to a fairy tale prediction of “optimism” from corporate tax advantages which will MAGICALLY “trickle down” (eventually, but don’t hold your breath) to the 2 MILLION currently UNEMPLOYED DOMESTIC STEM workers and 5 MILLION MORE working in menial non-Science jobs.
When I see the 40-plus ENGINEERS and Mathematicians that I kept in touch with when 2000 were laid off along with me from a “Fortune 500” (a SMALL number considering Microsoft laid off 18,000), get meaningful employment even at 40% of their former pay, the FANTASY will be believed. (I eventually “landed on my feet” by starting my own small business- apartment house).
The H1-B’s take LOWER PAY, as tuition is FREE for vastly inferior sub-standard degrees from COMMUNIST and SOCIALIST COUNTRIES, (just about what they’re worth); the FOREIGNER has no $250,000 tuition loan to PAY BACK that the USA grad paid for a SUPERIOR EDUCATION, and will be trained FOR FREE by the USA EXPERT he/she DISPLACES under mandate of forfeiture of separation benefits (like at Disney). They eventually PROMOTE THEMSELVES into the "HIGH PAY ECHELONS" with "priority displacement" of locals.
TRUMP and SESSIONS campaigned on COMMITMENTS to address the H1-B, and we wait to see results. Maybe JOBS are being created… BUT THEY ARE ALL GOING TO FOREIGNERS. Build the wall already, and SHUT DOWN the "H1-B" and "worker Visa" programs...
Get rid of the H1-B and H2-B worker visa programs. Those are jobs that American workers should be getting. I know people who are engineers who were laid off years ago and still can't find anything in their field. Now they are working in the service industry (retail, call center jobs, customer service). Also, once you are over 40 years of age in America, most companies don't want to hire you. Age discrimination is real in the United States.
Goldman has a track record of saying one thing to one group while doing something completely different with another group. Remember this is the same group who calls folks that listen to them “muppets”.
More than likely they are setting the stage to get more cheap labor to come to this country.
"America’s unemployment rate is already very low. Goldman Sachs says it will go even lower."
It's the same game on Americans played when past Administrations were in power.
STOP counting the part time jobs as jobs.
Stop automatically counting people who use up unemployment benefits as automatically having a job.
STOP counting Foreign Nationals that have taken an American Job as a job.
STOP counting minimum wage jobs as jobs.
The economy is far from healed and far from prosperous for most American debt slave workers.
The BLS calculates unemployment in several different ways. Although the U3 rate includes part time jobs, the U6 does not. You can choose to follow either or both. In both cases the unemployment calculation shows a long term decline. The number of people working part time who want to work full time has been declining for a long time; I believe it peaked in 2012.
Unemployment benefits do not factor into the way the BLS determines unemployment. Only whether or not you have a job; if you don't have a job whether or not you looking. The number of people who are unemployed and not looking, but want a job is near a recorded low.
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