Economic Statistics

Based on the reports of the US Bureau of Labor and Statistics, the employment rate is on an upward trend. An analysis of the reports highlights the interplay of factors that are crucial in the improvement of employment levels within the professional sector, business and healthcare. The unemployment rate among major workgroups is likely to decline. Both part-time and full time jobs will increase due to increased activity in both the professional and business service sector. These sectors contribute significantly in the enhancement of the Gross Domestic Product. In addition, the expansion of the healthcare sector will create additional jobs to cater for healthcare service delivery.

Various aspects of economic growth influence the employment trend. The expansion of crucial sectors means that additional labor is necessary to generate the required output. This translates into a decrease in the unemployment rate and an improvement in the GDP as production of goods and services increases economic activity. Enhancement of individuals’ purchasing power results due improved means of income generation. Increase in employment opportunities and improved access to resources are some of the factors that promote increased income generation. The core rate is another key determinant of employment as it affects the operational costs of potential employers.

The economic statistics report within a region is a key consideration for an investor as it determines the prospects of a business within such a region. By analyzing the economic report, a business owner can make appropriate decisions that ensure the continued operation and profit generation for a business. It helps the business owner to respond appropriately to consumers’ trend of purchasing. In addition, it helps business owners to mitigate operational costs by providing early signs of economic trends that may introduce increased operational costs. In this regard, a business can cushion itself from increased labor costs, decline in sales and taxes.