Monday, August 9, 2021

NYT: Jobs market is good news

Via the New York Times: 
America is getting back to work.

That’s the simplest, clearest analysis of the labor market that emerges from nearly every line of the July employment numbers released Friday morning. It is a welcome sign that, as of the middle of last month, the economy is healing rapidly — and that the previous couple of months reflected healthier results than previously estimated.

There are caveats worth mentioning: The surveys on which this data is based were taken before people were worrying very much about the Delta variant of the coronavirus; the share of Americans participating in the work force hasn’t really budged; and we still haven’t achieved the kind of one-million-plus monthly job gains that seemed plausible back in the spring.

But the overall picture is not a particularly nuanced one. The job market is getting better, and the economy is healing.

The 943,000 jobs added to employers’ payrolls in July is impressive on its own (though with an asterisk involving education employment, about which more below). It’s all the more so when combined with sharply positive revisions to May and June numbers.

Great news, here's hoping it continues.  

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looks like Blogger doesn't work with anonymous comments from Chrome browsers at the moment - works in Microsoft Edge, or from Chrome with a Blogger account - sorry! CJ 3/21/20