On June 4, 2021, the US Department of Labor’s Bureau of Labor Statistics (BLS) reported that 559,000 more people were working in the USA during May. The BLS also reported that the unemployment rate in the US dropped to 5.8 percent, which is the lowest since the start of the global pandemic. Economists generally consider 5.0 percent unemployment to be “full employment”. Speaking about the new US jobs report, President Joseph Biden declared, “That means we have now created over 2 million jobs in total since I took office, more jobs than have ever been created in the first four months of any presidency in modern history, triple the rate of my predecessor, eight times the rate of President Reagan.” President Biden also said, “No other major economy is gaining jobs as quickly as ours” and gave credit to people living in the USA wearing masks and getting vaccinated, which has allowed more American businesses to open up and hire workers to meet consumer demand. As the economy continues its rapid recovery, employers are facing a shortage of workers to fill a range of jobs in the USA. This current labor shortage is expected to increase as the world’s largest economy expands, creating new jobs in America, and as more “baby boomer” workers retire this decade. To read more, click here!