U.S. Job Growth on Fire
U.S. job growth catches fire, adding net one million+ new jobs over past three months. The three-month moving average surged to 336,000.
January shows initial gains of 257,000 jobs. Since December and November saw substantial upward revisions, we might expect the same for January’s final count.
With the exception of natural resources (oil/gas drilling -3,000 jobs) and government (-10,000 jobs), growth is occurring across almost all areas.
This is not just good news; it’s excellent.
Over one million people reentered the labor force in January: further evidence that jobs are becoming more plentiful: and wage growth edged up 0.5 percent.
It appears we are in the midst of a solid, strong U.S. recovery.
The challenge here is for Connecticut to up its economic game to keep pace with the growth that’s taken hold across the nation. Our state still needs to work on that.
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