Latest Job News
Out today:
The U.S. economy added a modest 111,000 jobs in January, but the job picture was much brighter than first estimated in the final quarter of last year, a government report showed on Friday.
While the January jobs gain fell short of economists’ forecasts, upward revisions to prior months’ data indicated the economy was on solid ground. A separate report found consumers – whose spending fuels two-thirds of economic growth – were more upbeat in January than they have been in two years.
Larry Kudlow notes more at The Corner
At $16.76, average hourly earnings are nearly 20 percent above year 2000 levels, and 44 percent above the $11.65 level in the fifth year of the Papa Bush/Clinton business expansion cycle.This is the fifth year of the GWB cycle.
Even in inflation adjusted terms, real average hourly earnings are slightly higher than the 2000 peak, and nine percent above the 1995 fifth year average level.
Hoverville indeed.
More on consumer confidence from US News.
— The Ace