Economists Expect Little Improvement In US Labor Market Over Next Few Years
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]