BEYOND THE NUMBERS
Today’s Jobs Report in Pictures
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.