Finally, we have some good news on the financial market. The American economy seems to have at last recovered from the recent downturn (set by the 2008 crisis), when the private sector started dwindling and companies stopped being able to grow and provide as many jobs as it did before that moment. But now, at least in terms of these private sector employment figures, things apparently got back on track. According to the latest employment report for March, the jobs added by private employers last month amounted to 192.000, bringing the total non-public payrolls back and above the previous milestone of 115.98 million, reached in January 2008, near the start of the recession.
Why is that good news?
Sure, this increase doesn’t mean that the economy recovered all its losses, since the unemployment rate is still very high and the number of people in need of a job (in the working age group) actually increased with about 9 million since 2008. That means that even though the number of jobs available got back to where it was in the pre-recession period, the same doesn’t provide as much nowadays, since more active people in need of a job entered the market by coming of age.
But still, any kind of growth in the number of jobs offered means two really good things: number one, that the overall economic potency of companies has increased comfortably up to the point where they afford and need extra work which they can pay for, which in turn will create more economic well-being and so on; and number two, that the so-called middle class will be strengthened by the extra number of jobs created. And sociologists and economists all agree that the stronger the middle class is in a liberal democracy, the stronger the overall economic climate. Thus, the private sector employment rates are crucial for boosting and maintaining a healthy economy, or, in the case of the recent recession, for nursing the nation’s economy back to health. We may not be quite there yet, but the growth in the private sector employment sure is a good start.
The Potential of the Private Sector Employment
So we’ve counted so far at least two things for which this is good news: the companies are stronger and feel confident enough to invest and offer jobs, and the middle class of citizens is strengthened as well. The better the middle class fares, the better for the economy. Poor and imbalanced states are often confronted with a high polarization between a powerful super-rich elite and the miserably poor and uneducated majority. As long as a middle class postpones its existence, things can’t really get better in any sector of that nation’s life, so therefore, many economists, sociologists and policy makers have made it a key point to encourage the strengthening of the middle class through almost any means possible.
So, the better the private sector employment fares, the better it is for everyone and for future prospects of growth. Since it seems to be a good time coming, and since the companies feel confident enough in the near future’s economic odds to create some new jobs, perhaps you should take it as a hint to feel more confident yourself. The returning of an economy back on track has often been known to offer many opportunities for people with a vision (for a start-up but not only). So, since the hour brings such good tidings for the private sector employment rates, and thus for the entire economy and individual’s opportunities, perhaps it’s time to think about putting money to work for you and produce more. The overall financial environment is better than it has been for a long time.