Economists Expect Little Improvement In US Labor Market Over Next Few Years
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The labor market has consistently grown in the last few years, albeit slowly, but economists say the days of advancement could soon be over.
Unemployment has declined from 10% in 2010 to less than 5% today. But economists surveyed by the Wall Street Journal foresee the jobless rate making less progress—the average prediction is that the US will leave 2018 at 4.5%.
Change is also projected to be slow when it comes to underemployment—according to the Labor Department, the underemployment rate today is 9.7% and economists expect that rate to slide to 9% by the end of 2018. If these economists are right, we can expect little change in the labor market for several years. [WSJ]