Today’s Jobs Report: Lowest Percentage of Americans Working in Decades
Endless unemployment is ruining our country. Stop paying people to sit and home and they will go out and work. There are jobs out there.
Check it out:
The good news in today’s jobs report comes from what it didn’t show. The bad news in today’s jobs report also comes in what it didn’t show. The jobs report did not show either the warning or hopeful signs that many economists anticipated.
The good news: despite the U.S. economy shrinking in the first quarter (first quarterly contraction in 3 years), job growth remained healthy. Employers added 217,000 jobs and the unemployment held steady at 6.3 percent. Job growth occurred in many sectors with the fastest growth in the professional and business services (+55,000) and healthcare and social assistance (+55,000) sectors. And wages rose modestly.
Taken together, the labor market shows no signs of heading into a recession. This makes it more likely the Q1 GDP report represented an aberration, not a harbinger of worse to come.