BLS: Unemployment rate falls to 7.3 percent

Ideally, the road to success would be a smooth one for businesses of all sizes and across every industry. However, that is rarely the case, and many entrepreneurs are aware of that fact. For true long-term success, companies must have a comprehensive general business insurance policy. Otherwise, unexpected events could be even more devastating.

For example, the most recent unemployment report from the Bureau of Labor Statistics showed what many economists consider to be less-than adequate numbers. The unemployment rate fell to 7.3 percent—the lowest number in four and a half years—but just 169,000 positions were added.

"Some of this is due to the aging of the workforce but it reflects a weak labor market," Stephen Bronars, senior economist at Welch Consulting, told the news source. "The unemployment rate is declining for all the wrong reasons—people are dropping out of the workforce."

Bronars added that the report showed more people were working full-time in August, compared to July, but overall, "this was a disappointing jobs report."

Specifically, the participation rate has fallen by 1.6 percentage points since the beginning of 2010.

In a recovering economy, it might not be possible for every company to bring on more workers. However, with no business guaranteed to remain untouched form such events, having the necessary protections in place for other situations - such as natural disasters - business owners will have one less thing to worry about.

Whether a company is just starting out, or is more tenured, commercial insurance specialists can find the right policy that will help in the short- and long-term.

 

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