The United States Economy Is Turning Into A Jobs Machine – Will It Continue?
The first Friday of every month is “Jobs Friday.” It’s when the Bureau of Labor Statistics (BLS) publishes the labor report for the previous month’s activity. During the month of January, the economy created 257,000 jobs, outstripping estimates. It is surprising, but the U.S. economy is turning into a jobs machine. Consider the following facts from the Bureau of Labor Statistics:
After current revisions, the U.S. economy created 3,116,000 jobs during 2014. This is the highest raw new jobs creation level since 1999.
As compared to the last few years, job creation rose dramatically in 2014. In 2011, 2.080 million jobs were created as compared to the 3.116 million new jobs created in 2014.
In the 70 years since the end of WWII there have only been 10 years when more jobs were created in the U.S. economy than were created last year (1946, 50, 77, 78, 83, 84, 88, 94, 97 and 99). This view ranks 2014 in the top 15 percent of job creating years since 1945.
The rapid pace of raw jobs creation during 2014 was carried forward into the beginning of 2015 as job creation on an annual level is 3.084 million new jobs.
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