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Critical analysis Journal opinion article - Essay Example

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economy is witnessing notable growth, especially in the job market due to the development that metropolitan areas in the country are witnessing. For instance, according to the Conference of Mayors in the United States, more than…
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Critical analysis Journal opinion article
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U.S. Job Market Peak Employment Recent growth trends reveal that the entire U.S. economy is witnessing notable growth, especially in the job market due to the development that metropolitan areas in the country are witnessing. For instance, according to the Conference of Mayors in the United States, more than half of the metropolitan regions in the country have exceeded the rate employment witnessed before the recession. They have thus, ended the long drag witnessed during the economic depression, which ended during the mid-2009. Furthermore, a report by HIS Global Insight reveals that in the coming few months, more than half of the metropolitan areas will have rates of unemployment that will be less than 5 percent. The economies will be fully employed, allowing them to attain their potential in offering jobs and raise the income of their inhabitants. These will play a key role in helping generate high growth levels in cities, contributing to overall advancement of the entire economy (Sparshott).
The latest outlooks evident in the case of American cities are optimistic, although some urban areas as well as their suburbs have populations representing about 86 percent of the regions’ population, while 88 percent are employed in nonfarm sectors. Even though more than half of the cities have attained record levels of employment, about one-third are anticipated to fail reaching this level when 2016 ends. Moreover, approximately 130 metropolitan areas are anticipated to penetrate the market in 2017, although they will be supporting few jobs unlike the case of the past decades. The areas that are recovering at the slowest rates are the older Midwestern regions, which were negatively influenced when the region lost a large number of jobs offered by the manufacturing sector. The deteriorating infrastructure and aging population will also play a role in preventing these areas from recovering, making them rank behind the top-advancing cities in the U.S. (Sparshott).
In a different perspective, the boom witnessed in the oil sector, which played a key role in allowing certain cities in the U.S. boost their performance, is currently reversing progress. For instance, Midland, Texas portrayed fastest growth in 2014, but this is not the case presently. However, in 2015, the employment and economy of the metropolitan are anticipated to slow down and contract at the start of 2016. Overall, however, the cities in the U.S. are playing a key role in driving the growth of the economy, thus paving the way towards the recovery process. Moreover, even though some cities still need to realize additional growth to reach the economic heights they were at before the recession, there are no signs of deteriorating momentum. Thus, although worse off cities in the U.S will take some time before they build up, they will make the entire U.S. economy stronger as time passes. By adjusting to the issues they experienced before the recession, the foundations the cities are establishing to boost the growth of their economy are currently stronger (Sparshott).
With respect to the current performance of the U.S. economy, I believe that metropolitan areas are playing a key role in boosting the overall rise in employment, leading to overall growth of the entire U.S. economy. Based on this progress, I would propose that cities lagging behind in terms of growth and employment creation devise ways of creating job opportunities for their inhabitants. These will be essential in terms of adding to the overall growth of the country in the coming years.
Work Cited
Sparshott, Jeffrey. U.S. Job Markets Are Returning to Peak Employment. Where Does Yours Rank? The Wall Street Journal. 19 Jun. 2015, web. 22 Jun. 2015. . Read More
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