Today’s solid jobs report shows that private employers have added jobs every month for five straight years. Unemployment has dropped sharply, though it has room to fall further. To herald a truly healthy labor market, however, labor force participation should be higher – it fell in February as more people stopped looking for work than found jobs – which will mean a larger share of Americans should have a job; fewer people should be working part time because they can’t find full-time work; fewer people should experience long spells of unemployment before finding work; and wages should be rising faster.
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