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Friday, March 06, 2015

Job Growth Was Fantastic Last Month. So Why Aren’t Wages Rising More? - NYTimes.com

irst the good news. The American job market has truly, really, finally, unquestionably shifted into a higher gear.
The 295,000 jobs the nation added in February was comfortably above expectations, drove the unemployment rate down two-tenths of a percentage point to 5.5 percent, and completed the best stretch for job creation in nearly 15 years. Over the last six months, the nation has added just shy of 300,000 jobs a month, the strongest number since the six months ended in March 2000.
This time a year ago, the economy was locked in a yearslong tepid recovery that involved adding 2 to 2.5 million jobs a year. That has now hit 3.3 million, and will soon hit 3.5 million if this pace of job growth keeps up. This is pretty terrific news by any standard.


Job Growth Was Fantastic Last Month. So Why Aren’t Wages Rising More? - NYTimes.com

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