US jobs grow, but not wages (yet)

 

Improving opportunities in the job market appear to be slowly pulling Americans off the economy’s sidelines. PHOTO: JOE RAEDLE/GETTY IMAGES

From WSJ, 7 July 2017, by Jeffrey Sparshott

U.S. employers are churning out jobs unabated as the economic expansion enters its ninth year, but the inability to generate more robust wage growth represents a missing piece in a largely complete labor recovery.

U.S. employers added a seasonally adjusted 222,000 jobs in June, the Labor Department said Friday, and the unemployment rate rose slightly to 4.4% with more people actively looking for work.

The U.S. has added jobs every month since October 2010, a record 81-month stretch that has absorbed roughly 16 million workers and slowly repaired much of the damage from the 2007-09 recession. The unemployment rate touched a 16-year low in May and the number of job openings hit a record earlier this year…..

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