Employment numbers are rising, but many still face economic stress

Finance


Cash is spread out of a purse in North Andover, Massachusetts, in this June 15, 2018 file photo. At the same time, the number of people seeking unemployment benefits fell to his lowest level in five months. Meanwhile, inflation remains near his 40-year high, while gas costs and other prices have fallen in recent weeks. (AP Photo/Elise Amendola, File)

Springfield, Massachusetts (WWLP) – Job growth beat expectations by 3.4%, according to the Bureau of Labor Statistics. This is the lowest unemployment rate since 1969, but many still face economic stress.

This April’s jobs report is good news, but many Americans are feeling emaciated by persistently high inflation, the risk of a catastrophic Treasury default, and troubles in the banking industry. Interest rates have also continued to rise and there are fears of a recession this year.


Agawam’s Marilyn Rosario told 22News that it was difficult to keep up with rising inflation and the current economy. She said, “Absolutely a lot of stress, a lot of stress… I wish I could buy everything for the low price that people can afford. I mean some people can’t eat what they like.”

Of the 253,000 jobs added last month, some of the biggest increases were in the areas of leisure and hospitality, private education and health services, and professional and business services.



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