The Economy Is Good, Actually

We are living through the best labor market in 50 years. The U.S. economy created 467,000 jobs in January, more than triple the 125,000 that economists had anticipated. According to the most recent data, the economy created 700,000 more jobs at the end of last year than previously believed. Workers are leaving their jobs for greener pastures at record levels, organized labor is enjoying a resurgence of worker power unseen in a generation, and pay for low-wage workers is up even after adjusting for inflation.

Compared with the federal government’s, and the country never recovered all of the it lost. Today, manufacturing jobs have nearly returned to their pre-pandemic levels amid a burst of across different industries. The stunning jobs numbers over the past two months were secured as the Omicron variant damaged commercial activity across the country.