One wag said we shouldn't celebrate the current value of employment to population is the same as the last two lows in the business cycle. Has she noticed from whence this recovery started? For heaven's sake we barely escaped the death spiral of a depression. She writes as if this one is over, but it could be the longest ever if President Trump doesn't screw things up.
The Labor Department reported that businesses added 211,000 jobs in April, after adding just 79,000 jobs the month before. The pickup in hiring underpinned projections that economic growth is set for an upturn. Output grew at an annual rate of just 0.7% in the first quarter. After seeing the latest numbers, economists at forecasting firm Macroeconomic Advisers increased their projection for second-quarter growth to 4%.**
Wage increases have had remarkable steady growth beginning with 2015, though news media thinks it is not good enough. I have come to the opinion that people may be happier with a "Boom and Bust Economy" rather than steady growth.
* https://blogs.wsj.com/economics/2017/03/01/this-is-now-the-third-longest-economic-expansion-in-u-s-history/
** https://www.wsj.com/articles/u-s-economy-adds-a-robust-211-000-jobs-in-april-1493987658
No comments:
Post a Comment