×

Nation’s Labor Market Strong

It is important, when assessing the state of our union, to discuss the problems and pitfalls our country faces. It is also important, however, to acknowledge its strengths and fortunes.

And we are fortunate that the unemployment rate for October, as the Associated Press reported recently, came in at 3.9%.

While we believe our economy and our country face serious challenges and that our federal lawmakers and officials have been too hesitant and frankly resistant to address the importance of true energy independence and curtailing inflation so that all our families and businesses have the opportunities to thrive, we also believe we should be thankful for good news when it comes along. And the unemployment rate — even when factoring in those who are able to work but no longer are actively looking for a job and thus not counted — remains a bright spot for the nation.

Three years ago, during the ravages of the COVID-19 pandemic, our nation’s unemployment rate was 6.9%. Just six months earlier at the beginning of COVID-19, it was 14.7%.

Again, serious issues confront our country — our need for affordable energy, the toll of inflation on household and business budgets and the future risks posed by our national debt and out-of-control spending.

But none of these challenges would be any easier if millions more Americans were also unemployed.

And so, it is important that as we expect our public servants to be diligent in addressing these challenges, that we recognize and appreciate the advantage we’ve been afforded by our strong labor market.

Starting at $2.99/week.

Subscribe Today