Despite the fact that the war in Iran has created a drag on the American economy because of elevated gasoline prices, the American economy is doing well. As I write this on Wednesday, crude oil prices look like a teenager on a trampoline. I have no idea where they will eventually settle down or if they will eventually settle down.

On Wednesday, Breitbart reported:

American businesses ramped up hiring in April by the most in over a year, the latest indicator of firm demand for labor.

Private-sector payrolls climbed 109,000, ADP Research said Wednesday, with gains spread between the goods-producing and the services sectors.

The construction sector added 10,000, manufacturing added 2,000, and natural resources added 3,000.

Services sector employment climbed by 94,000. Health and education firms grew payrolls by 61,000, making it once again the fastest growing segment of the labor market. Trade, transportation, and utilities added 25,000. There were also gains in information, financial services, and leisure and hospitality.

Small businesses accounted for 65,000 of the jobs gained. Large businesses, those with over 500 employees, added 42,000. Medium-sized businesses, those with 50 to 499 employees, added just 2,000.

“Small and large employers are hiring, but we’re seeing softness in the middle,” said Dr. Nela Richardson, chief economist, ADP. “Large companies have resources to deploy, and small ones are the most nimble, both important advantages in a complex labor environment.”

As I write this, April’s workforce participation rate is not yet posted. It will be interesting to see if that rate changes.