To an overwhelming number of Americans, losing a job means more than getting down in the dumps. It could mean prolonged windows of financial stress, which could ultimately lead to bankruptcy. Job loss is one of the most common reasons why Floridians file for bankruptcy. There are many factors that lead up to unemployment, but current trends show that a significant number of professionals of various industries struggle with the issue. Could current issues in America play a part in this problem?
Last year, an article in CNN Money detailed possible factors that led up to the country’s gradual decline in certain areas of employment. In response to President Trump’s past claims that trade with Mexico and China have played a role in job loss, CNN points out that this is only the tip of the iceberg: since 2000, the U.S. has lost 5 million manufacturing jobs. Trade, in fact, can be beneficial to the economy, providing more jobs and opportunities. Even though some officials blame trade for this major loss in jobs, CNN adds that technology has also influenced this shift considerably–manufacturing has since been replaced by more promising industries, including healthcare and retail.
Newsweek is also skeptical of Trump’s assertions that the current job outlook is on the mend. In a piece from September of this year, they criticized the president’s promises to improve America’s current unemployment issue. In stark contrast from his language, job growth has actually slowed in the nine months of Trump’s presidency; Newsweek shares data from the Labor Department that reveals the American economy saw only 156,000 new jobs in August. However, the hurricanes that swept across the Atlantic and Caribbean have certainly played a part in these bleak statistics. Nevertheless, Trump remains optimistic about the future of jobs in the country.