The September 2021 job report was not as pleasing for some Americans, but reports in October show renewed signs of life. For the past year, the economy has been performing poorly, partly because of the transition of administration and the Covid-19 pandemic. In October alone, 530,000 jobs were created in line with the projections of economists. As a result, the unemployment rate decreased by 0.2% to 4.6%.

Despite these milestones, the US employment statistics are still below the pre-pandemic levels. Nonetheless, the positive trajectory as identified by economists will push workers from what has been the new normal into the “actual normal.” The positive economic recovery has not only been witnessed in developed countries such as the US and the UK but also in developing countries such as the Middle East.

In countries such as the UAE, Saudi Arabia, and Iran, their oil business has played a key role in keeping their economy afloat. They have also offered financial support to businesses in the hospitality and entertainment industries which are crucial in reviving the tourism sector. This financial boost has seen most hotels get back to their normal operations and business in the entertainment sectors such as nightclubs and land-based casinos can now run without restrictions.

Focusing on the gaming and gambling industry, the opening up of location-based casinos is great for employees. But the shift to online platforms has been more beneficial to players. This is because they can still access a wide range of casino games, including live dealer games while in the comfort of their homes. There are also live casino bonuses, including deposit offers, and you are treated to a variety of live dealer games, including live poker, live blackjack, and live roulette.

The great resignation, otherwise referred to as the unwillingness to take up low-paying jobs, is slowly coming to an end. Due to rigorous work programs and significantly low wages, potential workers were hesitant to accept these working terms in the hospitality and leisure sectors. The latest information about workers indicates that salaries and wages have improved. In October alone, there was an increase of 11 cents in terms of hourly earnings. On average, the amount rose to $30.96 per hour.

Based on past trends, wages are expected to increase in months to come. At the beginning of the third quarter, job opening rates were very high. Subsequently, labor cost has increased by 8.3% since last year. These factors have also put a lot of pressure on stakeholders to increase salaries. In many industries such as trucking, there is a shortage of workers across the world, leading to supply chain issues. To deal with the problem, firms are actively increasing wages to combat the issue. 

Although workers stand to reap a fortune, they pose a challenge to the Federal Reserve. It has to control inflation in the country as well. One of the strategies to manage this concern is to scale down the buying of treasury bonds and other assets. This is a way of limiting the money supply within the economy. There is also a looming plan to regulate interest rates in an attempt to tame inflation.

While the October report was overwhelmingly positive, millions of working Americans remain on the sidelines despite the improving economy. The majority of employers have launched complaints of shortage of workers while the share of working-age people who have a job or were looking for one remained almost the same as September at 61.6%. This shows that the labor market will take time to recover despite strong months like October. Additionally, the report did not cover every demographic group.

The Native Americans were one notable group that conspicuously missed from the Bureaus of Labor and Statistics jobs report. Without overshadowing the efforts by the Federal Reserves to offer loan programs to native American Indians, it is clear that the US government is far from giving indigenous people equal treatment to other residents.

Notably, the federal supplement provided to the unemployed expired in September. Most experts are positive that the depletion of this assistance will force people to search for jobs. Thus, the number of people looking for work and the employment rates will likely increase.