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POLICY INSIGHT
BEYOND THE NUMBERS

Today’s Jobs Report in Pictures

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Today’s solid employment report shows the economy continuing to add jobs even though economic growth stalled in the first quarter.  But the share of Americans with a job, which rose modestly in 2014, also has stalled this year and remains well below pre-recession levels.  We’re still waiting for clear signs of greater labor force participation and faster wage growth that, together with a falling unemployment rate, would justify the Federal Reserve beginning to raise interest rates toward “normal” levels for a healthy labor market.

Stay tuned for my statement with further analysis.

Private Payrolls Have Grown Every Month for 62 Straight Months (May 8, 2015)
Share of Population with a Job Modestly Higher Since 2013 (May 8, 2015)
Unemployment Rate Still Higher Than Before Recession (May 8, 2015)
Long-Term Unemployment Share Remains High (May 8, 2015)
Job Losses Far Exceeded Other Recent Recessions (May 8, 2015)
Growth in Average Hourly Earnings Has Been Modest (May 8, 2015)
Topics:

Policy Basics
Economy