Job Growth Stabilizing, Wages Rising
The May employment report confirmed that the job market remains healthy, with job creation showing signs of stabilizing after steadily slowing over the last several years. A healthy labor market should continue to provide support for the economy and consumer spending, and we may even see some acceleration as fiscal stimulus provides incentives that may draw more people into the labor force and encourage businesses to hire.
We are encouraged by stabilizing job growth; few economic indicators so strongly represent quality-of-life improvement for the people behind the numbers. However, labor activity tends to send late signals for m... Read more