The talking heads are at a loss…
Jobless Rate Falls to Lowest in Nearly 50 Years as Employers Ramp Up Hiring
Stronger-than-expected April job gains point toward solid growth, though fewer Americans are working
By Eric Morath and Sarah Chaney, the Wall Street Journal
WASHINGTON—The U.S. labor market showed historic strength in April, with employers hiring at a faster pace and the unemployment rate falling to a half-century low.
The latest numbers, however, also raise the question of whether enough workers can be drawn into the labor market to sustain the momentum of a nearly decadelong expansion.
That “decadelong expansion” was at best anemic during the malAdministration of the faithless feckless former President, and was driven primarily by reduction in the labor participation rate.
What we are seeing now is a resurgence of jobs in industries previously declared moribund.