Employment in the United States 2020
In 2018, around 155.76 million people were employed in the United States. For 2020, an increase by almost 2 million employed people is expected.
Willing but unable
The American unemployment rate has seen its ups and downs over the last decades; recovery from an alarming increase in unemployment during the financial crisis in 2009 and the Great Recession fueled by job loss and bankruptcies could only recently be declared, after the Obama administration focused on job creation from 2010 on. Since then, unemployment has been on a downward trend while employment figures are steadily increasing.
The Great Inherited Recession
The financial crisis happened under President Bush, when the housing market bubble in the United States burst and caused a global banking crisis. Millions of Americans lost their homes and their jobs and thus their source of income. Since the economy usually takes a few years to react to and recover from such a crisis, the United States suffered the consequences for several years. Key economic indicators, like the unemployment rate or the inflation rate, did not recover fully until 2016, meaning that remnants of the crisis were inherited by the next sitting U.S. President, Barack Obama. In the same vein, current U.S. President, Donald Trump, now benefits from the Obama job creation initiative, since unemployment today is historically low.
Willing but unable
The American unemployment rate has seen its ups and downs over the last decades; recovery from an alarming increase in unemployment during the financial crisis in 2009 and the Great Recession fueled by job loss and bankruptcies could only recently be declared, after the Obama administration focused on job creation from 2010 on. Since then, unemployment has been on a downward trend while employment figures are steadily increasing.
The Great Inherited Recession
The financial crisis happened under President Bush, when the housing market bubble in the United States burst and caused a global banking crisis. Millions of Americans lost their homes and their jobs and thus their source of income. Since the economy usually takes a few years to react to and recover from such a crisis, the United States suffered the consequences for several years. Key economic indicators, like the unemployment rate or the inflation rate, did not recover fully until 2016, meaning that remnants of the crisis were inherited by the next sitting U.S. President, Barack Obama. In the same vein, current U.S. President, Donald Trump, now benefits from the Obama job creation initiative, since unemployment today is historically low.
