Career Calling

June 5, 2015

A Way to Understand May’s Job Growth Numbers

 

The news that the U.S. economy added 280,000 jobs sounds great. Bloomberg offer charts that show a more mixed situation. Yes, job growth is up. However, the unemployment rate went up because more people have entered the job market. Similarly, average hourly earnings is up, but that measure has moved like a yo-yo over the past year. The best news is that long-term unemployment is moving steadily down. If you’re thinking about looking for a new job or asking your boss for a raise, this could be a good time to act. Even if the news is mixed, the job market is much better than it was five years ago.

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