The Bureau of Labor Statistics (BLS) has updated the data for the number of jobs that are available in the U.S. economy. More than 7 million jobs are available for an estimated unemployed labor force (job seekers) of approximately 6 million.
Additionally, what is interesting to note is the sectors where the rate of available jobs is increasing the most. [See Table A – as below] What you can clearly see is the rate of highest job openings is within the Main Street economy (blue and white collar).
To consider the state of the economy; and contrast the punditry opinion of the economic strength therein; it is important to look at what types of jobs are growing.
Ex. as we can see the “manufacturing” sector available jobs continues to grow at a rate higher than the companies within the industry can hire workers to fill them.
Additionally, and importantly, another sector with expanded job openings is “retail”. This is a key indicator of downstream consequences from economic growth. People have money to spend, and retailers need workers to support the shopping demand.
When considering the current health and future expansion of the U.S. economy it is an excellent sign that durable goods makers are continuing to add jobs. More and more manufacturing capacity is coming on-line each month and that means more jobs.
The bottom line is the U.S. Main Street economy is very healthy; wage rates are increasing as a natural outcome of supply/demand within the labor market; and there’s no indication that dynamic is going to change anytime soon.
MAGAnomics makes a balanced economy.
The Trump economic policy simply works.
Jobs, jobs, jobs.