Yesterday CNBC reported the following:
After a disappointing February in which just 20,000 jobs were added to the economy, the job market is back on track, adding 196,000 jobs in March.
That’s according to the latest report from the Bureau of Labor Statics, which also showed unemployment remaining at 3.8% and wages increasing by 3.2% from a year ago.
“I think the March report will reassure investors after the weak report in February brought about concerns of a possible slowing economy,” Glassdoor’s chief economist Andrew Chamberlain tells CNBC Make It. “The report is strong across the board and it’s hard to find any weaknesses. It shows that even after 102 months of positive job gains, the economy still has room to grow.”
At some point the economy will slow down. We have not yet dealt with the debt that runaway spending has created in recent years, and we have not yet fully revised trade deals that were detrimental to our country. However, March was a good month for Americans looking for work and Americans in the workforce.
The article reminds us that there may be a recession in the future, but not in the near future:
Though February’s numbers may have been alarming to some, Hamrick, Gimbel and Chamberlain agree that there’s no need to worry about a recession just yet.
“There’s no sign that one is imminent,” says Hamrick, though he adds, “we know that one is inevitable at some point.”
Gimbel adds that, “In 2018, we created, on average, about 200,000 jobs per month. That is astonishing at this point in the recovery and highly unlikely that the economy is going to keep that up moving forward. So if we drop down to creating 180,000 jobs a month, or 150,000 or even 100,000, that is OK.”
Having a businessman as President has been a good thing for the majority of Americans.