US Economy Booming, Unemployment Lowest Since 1960s

This is from the New York Times

In a Sign of the Economy’s Strength, Jobs and Wages Moved Higher in August

Sept. 7, 2018

American economy’s stamina 

wages in August sprinted fastest since recession ended 

job creation streak extended to 95 months.

U.S. economy — that includes labor markets — is doing quite fine

Employers fattened payrolls by 201,000 jobs

jobless rate under 4% not seen since 1960s

mammoth US economy primarily driven by domestic demand

wage increase : illustrated economy’s resilience.

strongest labor market in a generation of workers

significant change in employers’ willingness to increase hourly wages

talking in terms of dollars instead of cents for wage increases

busy holiday season 

starting seasonal hiring earlier — Aug instead of Sept

offering higher starting pay.

In Louisville, Ky. jobs paid $12 - $13/hr reaching $15 level

race for talent is just so tight

employers trying to get any step ahead of competition

employers are doing more to develop their work forces.

devoting more money to training

focused on training and incentives

(company) covers tuition, books, guarantees job after graduation

severe labor shortages for jobs demanding specialized skills

jobless rate remained 3.9 percent

Over six months, 781,000 part-time workers moved to full-time jobs

My comments :  The US is still the largest economy in the world. If the US economy starts dancing, the rest of the world should be able to at least sing along.

They track real numbers - like movements in wages and new job creation. Businesses know what to do to prosper. More importantly when businesses prosper they know what to do with workers and their productivity.

Wages increases should always be tied to output and productivity.

The US population is over 326 million people in 2018.

"The GDP per Capita, in the United States, when adjusted by Purchasing Power Parity is equivalent to 305 percent of the world's average. GDP per capita PPP in the United States averaged 46251.26 USD from 1990 until 2017, reaching an all time high of 54225.45 USD in 2017".

This is a giant of an economy.

It is so very important to nurture a free market economy.