• Myles Shin

Today I Learned... About the Employment Rate

Today I learned about how the unemployment rate dropped to below 3.5%. This was the first time it has dropped this low in 50 years. The only problem with this, though, is that there has not been any wage growth as of recently. So while more people were getting jobs, they were still living at or close to minimum wage. Don’t get me wrong, it is good to have a low unemployment rate. However, I don’t think that it is right that there are so many people working minimum wage jobs. It is literally impossible to live in this day and age earning $13 an hour. The only thing I am worried about is that there may be a recession coming up, but this unemployment rate would disagree with that. With the inverted yield curve, the economy isn’t looking so good. Our economy is in a really weird state right now with such a low unemployment rate, high home prices, good stock market, but then there is the inverted yield curve. I am hopeful that our economy will rebound, but recessions are just part of a healthy economy. We just need to make sure that the recession does not turn into a depression.