US Displaced Workers Are Reemployed – Strong Economic News
The Bureau of Labor Statistics, the US Department of Labor, published some facts and figures that were eye-opening. According to the latest report, two-thirds of workers displaced fro 2015 to 2017 were reemployed in January 2018. This includes about 3.0 million workers displaced from jobs that were held for three years or more. By January 2018, 66 percent of these long-tenured displaced workers were reemployed, around the same number as January 2016.
Now according to this report, those workers that were reemployed were not necessarily finding work back in the same industry. However, with more jobs than potential workers in the US now, finding work is somewhat more interesting. One area that had a lower success rate in finding new jobs was the displaced workers from the information industry – only 47 percent were reemployed.
In the Health and Social Assistance industry, workers were reemployed over 75 percent, while the Financial Activities sector saw about 70 percent of workers finding new employment. Retail Trade and Durable Goods Manufacturing also found work about 60 percent of the time, with professional and business services also recording 60 percent or more on the reemployment chart. This robust labor market is putting people back to work who have been in the unemployment line for 2 to 3 years or more. Clearly, the policies of the Trump Administration are having positive impact on the US economy, with job creation now at an average of 200,000 per month in the past 5 months.