After undergoing a considerable rate of growth under tougher economic phase, it certainly seems that D.C employment is gradually going out of gas during the current phase of financial year. Present statistics are showing radical signals that the company is closing towards a halt, as far as their growth rate is concerned.
Fitzroy Lee, the Deputy CFO of the company said that the present condition of the company has set a trend that is being closely watched by the management group. The chief economist of the District also said that the resultant have serious indication of signals that implicate certain form of weakness that is going forward.
In addition to this, a latest report on the financial scenario of D.C employment from the office of Lee even include several figures from the federal labor which ultimately shows effective signals of sharp reversal pertaining to a number of fronts.
According to Lee, the actual figure of jobs has seen a rapid decline in the District. The trend is not new, but has been continuing since last year, from October onwards. According to company records, the rate of increased job recruitment throughout the District has shown radical increase for over forty-two months before the start of slogging.
In another stunning revelation of the report throws a very significant outcome in recent period that simply bears a major cause of concern for D.C. employment. After performing extremely well for approximately two years, there has been a gradual decline in the total number of employed residents of D.C.
However, Lee has offered a significant explanation behind such degrading statistical records. According to him, the new policy of cutting down on employment initiated by the federal government is a major player behind such an adverse result with figures related to employment rate of the state.
The chief economist of the District has also added that the result of increasing unemployment and stagnation of D.C. employment is also buried deep inside the policies adopted by private sector playing in the market. According to his views, the private sector has not also undergone innovative means to absorb more people and generate a considerable rate of employment for the people of the region.
Lee has stressed that the private sector should also develop and adopt techniques to emerge as a large recruiting body, along with the public sector. In this way only the employment cut policy, which is presently adopted by the federal government, can show minimized implications on the overall scenario of employment chart and statistical figures in D.C.
The mandated cutbacks resulting in such effects related to federal spending have certainly not been materialized. Many experts, on the other hand, are considering the leak of such records to have been done in a hurry. According to some economic experts of the region, this is not a perfect time to declare firm conclusions based on the present data of District’s economy. Rather, chances are still there that this could be revised and even considered in terms of several other indicators that have certain degree of positive implications.