The US did it again, more jobs; and this time with more wages. 161,000 jobs were added. Wages were up 2.8% from last year. Unemployment and job participation rates didn’t change substantially. By some accounts, this makes 73 months of job growth. By some accounts, financial anxiety has risen dramatically over the last year despite the good news. Things are better for more people, but people don’t feel that way: either a lack of trust in the data, or an expectation that we’re due for another recession (or worse), or fears mentioned in election campaigns are influencing feelings. At least the quantitative job news is good.
(Click on the graph for the link.)