Despite the hand wringing over a coming recession and sentiment levels dropping to all-time lows, the June employment report showed that the U.S. economy is alive and well.
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The Russian invasion of Ukraine, and the world’s response of inflicting financial shock and awe, made the strong jobs report take a back seat to geopolitical uncertainty.
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The labor market stomped on Omicron. Although the variant was expected to extract a toll on the January employment situation, the report was much stronger than expected.
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The December jobs report, as weird as it was, paints a picture of an economy that continues to create jobs and pay workers more.
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The labor market remained somewhat anemic in September, with the economy adding 194,00 new positions, 300,000 fewer than expected.
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While the labor market is improving, the facts beg the question: With millions out of work, is there a labor shortage?
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Have April showers dampened the U.S. economic recovery? In a word, no.
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The labor market has a little spring in its step. After a slow start to the year, the economy added 916,000 jobs in March and the unemployment rate dropped to 6 percent from 6.2 percent for the right reasons.
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On the eve of International Women’s Day, the news is not great for women who have seen more job losses than men since the start of the pandemic.
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