US Economy and Growth

America’s economy has enjoyed a steady solid growth rate for over 10 years.  The question is, where, how and what does the next decade look like?

According to a recent Bloomberg article, most of the wealth that the nation has generated has been from just 1% of counties. A recent report from the Bureau of Economic Analysis  found that a staggering 32.3% of US GDP was generated by 31 US counties.  What is perhaps even more odd about this statistic is that last year those 31 counties had only 26.1% of employed Americans.  

So it seems that the bones of the US economy is becoming further concentrated in larger cities and by the coasts.  Rural counties are dying down which could have implications for labor mobility and infrastructure spending.

But who exactly are these people who are bolstering the economy today?  According to a recent article in Yahoo Finance it is the immigrants who are making this happen: 

“Over the last decade, 42% of the net growth in U.S. population, and 54% of the net growth in the workforce, can be attributed to immigration. During the same period, the birth rate of native-born Americans has decreased, and the death rate has increased, due to aging. Immigrants now comprise roughly 15% of the total U.S. population. And because they tend to be younger than native-born Americans, immigrants now comprise about 17% of the U.S. workforce.”

With unemployment back at to its lowest since 1969 and a 3.1 percent increase in average hourly wages from 2018,  wherever its coming from and whoever’s providing it, the employment situation in America is positive.

Looking for a Job?

A job is so much more than a paycheck.  Obviously the monthly wage one brings home is crucial but having a place to go every day benefits one’s self-esteem; bolsters social skills and can even take one’s mind off everyday worries.  As such, the more people who are in gainful employment, the better for them, their families and society as a whole.  Here we take a brief look at which US states offer the best employment opportunities.

GoBankingRates recently conducted a study on the best places to find a job.  While nationwide the last decade has witnessed a 17+ percent growth rate, different states have varied employment growth rates.  For example, Colorado seems to offer the most employment opportunities and has a five year average annual unemployment rate of only 5. 7 percent.  Not only that but if you do live there, public transportation is good and improving. Private transportation is on the same page since there are now new vehicles in the market, powered by local electricity.  This of course is great for the environment and supplements the state’s economic development while offering customers reduced energy costs.

Over in New Hampshire – the second best place to find a  job in America right now – unemployment figures are a mere 3.2 percent and the state has added a third additional job vacancies than people seeking work.  Offering some of the lowest property taxes in the nation, with a median price of a home estimated at $244,900, economics look good for people living in the state of New Hampshire.

And then there is Utah (employment growth rates of 12.5 percent for 5 years and 17.4 percent for 10) with an unemployment average of just 3.4 percent in five years.  Minnesota also boasted a 10 year employment growth of 9.4 percent with one of the lowest unemployment rates nationwide. 

So job seekers have quite a lot to consider. If it does seem you’re just not getting the job you need/want, check out these other states for greater success.

Economic Growth and Job Vacancies

At the beginning of 2019 the Bureau of Labor Statistics reported a jump to 7.6 million of job vacancies in America.  Adding 304,000 new jobs in January was actually “almost double the 158,000 the market had forecast.” There have been other organizations noting a jump in employment opportunities throughout the nation as well, in particular the Job Openings and Labor Turnover Survey (JOLTS). While this is really great news, there is of course the concern that this may open the door a bit too wide for those in current stable positions to seek better opportunities that could upset the apple cart, stressing out SME owners. There has also been a substantial decline in job layoffs.


Other good news for workers was the increase in hourly wages in February being “the fastest pace in nine years.”  As well, Kevin E. Schmidt pointed out that:

“The importance of this strength in jobs and wages is that it has driven much of the resurgence in the American economy. Jobs and wages are the cornerstone of consumer spending — the key driver of U.S. economic growth.”

Unemployment dropped to 3.8 percent in February (from 4 percent).

The American Dream: A Look in 2019

President and CEO of the US Chamber of Commerce, Tom Donohue presents his 2019 State of American Business address in this video.  He focuses on policies that result in the bolstering of growth to “enable workers, families, and businesses to pursue their American dreams.”  As such, in the video, one business owner Brian Steorts, Flags of Valor, described his American dream as the ability to “remember, employ and empower” his employees…remembering how we became the greatest country in the world.

Maria Rios of Nation’s Waste, explained: “Coming to this country from El Salvador, becoming an American citizen and starting my own business and creating jobs for other americans; that was my American dream.”

Mark Wilson, Chime Solutions, Moscow, GA “My American dream was to see people reach their full potential; that’s what the American dream is really all about.”

There are different American dreams here; but business is the “common thread that combines them.”

Additional US Job Creation

October was a great month for job creation throughout America.  According to an Economic News Release from the US Bureau of Labor Statistics,  250,000 jobs were added last month.  Unemployment remains at a almost-5 decade low at 3.7% with Hispanic unemployment getting to its lowest ever – 4.4%.  There has been a hike in salaries too.

All this, in spite of Hurricane Florence and Hurricane Michael.

Home Depot Stepping Up Hiring

As more and more people scramble to find employment in a difficult economy, one company is hanging the “We’re Hiring” banner. Home Depot has just announced that it will soon be hiring 70,000 seasonal workers for the spring. This is the company’s busiest time of the year, as many people work on their homes in the warmer weather.

Those seeking positions can apply at the Home Depot website and hiring will be picking up the pace in the coming weeks. Tim Crow, the executive vice president of Human Resources explains that temporary job openings can sometimes turn into full time jobs, and that people should think of their temporary opportunities in this light.

In 2011, approximately half of the temporary job opportunities did turn into permanent positions for those who were employed.