EMPLOYEE CONTACT US WORKSITE
SALES: 1.858.300.2757 MAIN: 1.858.715.5100

IES Blog

The unemployment rate is falling fast

Posted on April 17th, 2013 Read time: 1 minutes

The national unemployment rate has been steadily decreasing in recent months, and employee benefits administrations might continue to see staff added to the payroll during the summer. 

According to the Bureau of Labor Statistics (BLS), the unemployment rate fell to 7.6 percent in March. Recent economic growth and an increase in companies hiring may have assisted in the drop, and economists now believe it will fall throughout the rest of the year.

Due the marked improvement, the Federal Reserve projects the number of people out of work will drop to 7.5 percent by December. The central bank estimates the rate will be between 6.7 and 7 percent by 2014 and might be as low at 6.5 percent in 2015.

To aid in the national monetary recovery, the Fed plans to insert $85 billion into the economy by purchasing federal and private assets throughout the year.

HR administrations increasing their recruitment might begin see the unnaturally large number of candidates start to decline back to normal as the unemployment rate continues to lower to pre-recession figures. 

Related Articles