Unemployment in the United States has been
falling continuously for the last seven years and the economy is speeding
ahead towards full-employment.
Underlying this success has been the sustained expansion of US non-farm
payroll employment. The chart opposite shows this process. In 1996, total
employment averaged 119.6 million. This year the total is expected to reach
128.4 million. Leading the way is the booming US construction sector, with
employment up by an average of 5% in each of the last three years. Nearly
900,000 extra people have found work in this industry since 1996.