Jobs = Good
The U.S. economy added 257,000 jobs in January, the Bureau of Labor Statistics reported Friday. Taken on its own, that would represent a solid number that continues a run of strong monthly job gains.
But don’t take it on its own. The real news in Friday’s report wasn’t what happened in January; it was what happened in the prior months. The BLS revised up its estimates for November and December job growth by a combined 147,000 jobs. November, in particular, went from a great month to a borderline historic one; set aside a one-month spike in hiring due to the 2010 Census, and the 423,000 jobs added in November were the most since March 2000.
The economy is consistently producing jobs now. In a steady upward climb. Rising employment will likely have a positive affect on a broad array of businesses that sell to consumers. The trickle up aspect of the economy is a good thing once it gets going.