There are quite a few major flaws when it comes to running a successful economy anywhere in the world these days. Politicians making empty promises and not delivering on them is causing a lot of financial havoc, especially where the job market is concerned. Saying “x amount of jobs will be added” sounds good when being interviewed by reporters, but the numbers don’t always add up.
US Job Creation Stumbles, Jobless Rate Above 5%
Truth be told, creating more jobs out of thin air is not an easy job either. Government officials have to come up with either new investors looking to open up shop in the US, or create a short-term business plan to get people off the unemployment lists for a few months. Promises such as “200,000 additional jobs to be created in one month”, seem to be a target well out of reach.
That being said, the US government did what they could and managed to create a total of 142,000 new job openings in one month. Keeping in mind over 259,000 jobs had been added in July and August, there seems to be a positive trend. But herein lies one inherent problem as well: filling those jobs takes a while and most recruiters have no clue that candidates are suited for the job.
In more positive news, September 2015 has been the 60th month – in succession – to see new jobs being added in the United States. Very few countries can show similar numbers, as there are so many faltering and crumbling economies around the world where job creation is next to impossible.
However, not all of the news coming out of the US job market is positive. Despite keeping the country’s jobless rate at the lowest peak since April 2008, there has been no change in the overall unemployment rate of 5.1%. Back in December of 2009, nearly one in ten US citizens was unemployed, so things have definitely picked up since then. However, in a country the size of the United States, 5.1% unemployment rate still means a lot of people are currently out of a job.
Even though the unemployment rates aren’t showing any sign of change, those who have a job are enjoying increased wages year on year. Despite the recession hitting the US quite hard in 2008 and 2009, wages have increased by an average of 2% every month. However, financial experts still feel this growth is too low, as there seems to be a disinterest from consumers to spend money. Plus, the US’ sluggish economic growth isn’t helping matters much either.
Last but not least, the traditional job sectors remain the most popular. Health care, retail and professional services are seeing a healthy increase in job numbers while the mining sector is shrinking rapidly. Construction, one of the key areas of employment anywhere in the world, remained virtually unchanged.
Bitcoin Job Creation Soars
While the traditional job market keeps growing and facing setbacks at the same time, the Bitcoin sector is booming and looking to fill a fair amount of positions as well. Most everyday consumers are not aware of the fact that the world of Bitcoin -and especially blockchain technology – is a breeding ground for new entrepreneurs, but also bringing down a country’s unemployment numbers.
Regardless of whether it’s a Bitcoin start-up, or an established company in the digital currency ecosystem, there are always new job openings waiting to be filled. Although, don’t expect to see one company looking to hire over 20,000 people at any given time. But every growing business needs staff to fulfil the tasks, and there are a lot of things going on in the world of Bitcoin every day.
Based on the number of jobs posted on platforms such as Coinality, there is no shortage of opportunities in the Bitcoin and blockchain technology sector. People with all kinds of different skills are more than welcome to submit applications to any of these job openings. After all, maybe employers will come across a person suited for a function they haven’t publicly announced yet.
Source: WSJ MoneyBeat
Images courtesy of Shutterstock, Coinality