Fox News posted an article today about the January jobs numbers.
The article reports:
It marks the 112th month of straight gains.
Unemployment ticked up slightly to 3.6 percent, as more people were looking for work, the Labor Department said Friday. The labor force participation rate edged up slightly to 63.4 percent. Average hourly earnings, meanwhile, rose by 7 cents over the past year to $28.44.
“Taken together, the first report of 2020 is a healthy one — showing that a possible redux of the roaring twenties updated for the 21st Century isn’t off the table yet,” Daniel Zhao, Glassdoor senior economist, said.
The labor force participation rate has not been at 63.4 percent since June of 2013.
The article notes:
“The labor market is continuing at a solid pace, and unemployment remains low,” said CareerBuilder CEO Irina Novoselsky. “It’s a crowded market for those battling to attract top talent and businesses are seeing the most traction when touting company culture along with their open positions.”
As the U.S. continues the longest economic expansion on record, investors are looking at the Department of Labor’s monthly payroll and unemployment data for signs that the rapid job growth over the past two years is softening and leading way to an overall growth slowdown.
The report contained a bad omen for manufacturing, which has been in a year-long rut: In January, the sector lost 12,000 jobs, most of which stemmed from motor vehicles and parts.
More Americans are going back to work, and wages at all levels are increasing. That is good news for all Americans.