U.S. Economy Adds 223,000 Jobs, Article Review Example

The article entitled “U.S. Economy Adds 223,000 Jobs; Unemployment at 5.3%” by Nelson D. Schwartz published in New York Times tackles the problem of unemployment in the United States. The article reports that the current unemployment rate stands at 5.3 percent. It is reported that the US economy added 223,000 jobs to the market in June this year, which interesting statistics, but founded on the economic perspective these figures are not good. The goal of the author was to demonstrate that despite the increase in the number of jobs to the economy, there is still the problem of unemployment in the US. The article points out that founded on other economic indicators, it demonstrates that wages are still flat and several Americans continue to remain on the sidelines. This implies that the overall economic picture for employees is not that nearly to bright (Schwartz 1).

It is evident from the article that the unemployment rate as in June had fallen to 5.3% in June from 5.5 % in June, which was reported as the lowest in the past seven years. This was attributed to the large exodus from the workforce other than people seeking for employment. Furthermore, from the perspective of the author the fall in unemployment rate is linked to strong payroll gains recorded in April and May that indicated that the US economy was gaining momentum (Schwartz 1).

In my view, the fall in unemployment in the US is a perfect indicator to demonstrate that the economy is gaining momentum. This was an indicator of abundant slack remains in the job market, and that the firms have not yet experienced pressure to raise the wages in order to attract required workers. It also highlights the weak pace of wage growth.

Work Cited

SchwartzD.Nelson. U.S. Economy Adds 223,000 Jobs; Unemployment at 5.3%. New York Times. Published on July 2, 2015.