By: James Overmoyer
In October, the US Department of Labor reported that the unemployment rate has dropped 0.4 percent over the year to 3.7 percent, its lowest in about two decades. The drop in unemployment comes during what economists are dubbing an inflationary period in the business cycle. While that may seem great, we now have 7.1 million job openings to 6.1 million unemployed Americans. Economists predict the extreme dearth of labour will cause slow growth in the economy.