‘Spectacular’

‘Job Openings Outnumber Americans Seeking Work For 13th Straight Month,’ ‘The Strong Labor Market Is Pulling People In Off The Sidelines’

“A bounce back in employment opportunities in March kept job openings well ahead of the number of Americans seeking work for the 13th straight month … Jobs remain plentiful compared with the number of Americans who are unemployed, with 1.28 million more available jobs than unemployed people.” (“Job Openings Outnumber Americans Seeking Work for 13th Straight Month,” The Wall Street Journal, 5/07/2019)

• “The number of U.S. job openings rebounded to a near-record 7.49 million in March, showing that companies are still ready and willing to hire …” (“Job Openings In U.S. Jump To 7.49 Million — More Proof Of Ultra-Strong Labor Market,” MarketWatch, 5/07/2019)

“Job growth is strong! More importantly, it is remarkably consistent…. This much is clear: Labor supply has been *much* bigger than the unemployment rate alone would suggest. The strong labor market is pulling people in off the sidelines … More than 70% of the people getting jobs (moving into employment) were out of the labor force the previous month -- meaning they weren't actively looking for work, but got jobs anyway.” (The New York Times’ Ben Casselman, @bencasselman, Twitter, 5/03/2019)

“[T]he rate at which workers quit their jobs held steady at 2.3% in March for the 10th straight month. Such a rate signals ‘workers are really confident that there are jobs out there that are available for them,’ said Josh Wright, chief economist at iCIMS Inc., a maker of employee-recruiting software.” (“Job Openings Outnumber Americans Seeking Work for 13th Straight Month,” The Wall Street Journal, 5/07/2019)

• “Workers also tend to get bigger wage increases when they hop from one job to another, which could bode well for already solid wage growth.” (“Job Openings Outnumber Americans Seeking Work for 13th Straight Month,” The Wall Street Journal, 5/07/2019)

‘Spectacular Is The Only Way To Describe This Number’

“The labor market the United States is experiencing right now wasn’t supposed to be possible. Not that long ago, the overwhelming consensus among economists would have been that you couldn’t have a 3.6 percent unemployment rate without also seeing the rate of job creation slowing … and having an inflation surge … And yet that is what has happened, with the April employment numbers putting an exclamation point on the trend…. In particular, it now appears that recession fears that emerged at the end of 2018 were misguided …” (“The Economy That Wasn’t Supposed to Happen: Booming Jobs, Low Inflation,” The New York Times, 5/03/2019)

• “‘Spectacular is the only way to describe this number. It is hard to believe that this 10-year old recovery keeps pumping out home runs,’ said Sung Won Sohn, economics professor at Loyola Marymount University.” (“The US Economy Has Been Growing A Long Time. Here's How It Keeps Adding So Many Jobs,” CNN Business, 5/03/2019)

‘The Recovery Is Benefiting The People Most In Need Of Help,’ ‘Recent [Wage] Gains Are Going To Those Who Need It Most’

“Unemployment for workers without bachelor's degrees fell to the lowest rate in 19 years in April, the Bureau of Labor Statistics reported Friday, a sign the recovery is benefiting the people most in need of help … Unemployment for workers without four-year or graduate degrees fell to just 3.5% in April, the lowest such mark since the 3.4% rate in April 2000, which was the lowest recorded, with data going back to 1992.” (“Lowest Unemployment In 19 Years For Workers Without Bachelor's Degrees In April,” Washington Examiner, 5/03/2019)

“Wage growth, long stuck in neutral, has at last found a higher gear…. The recent gains are going to those who need it most. Over the past year, low-wage workers have experienced the fastest pay increases, a shift from earlier in the recovery, when wage growth was concentrated at the top.” (“Why Wages Are Finally Rising, 10 Years After the Recession,” The New York Times, 5/02/2019)

‘[T]ax Cuts And Deregulation Are Most Likely Part Of The Reason For The Strong Growth Rates’

THE NEW YORK TIMES: “[T]ax cuts and deregulation are most likely part of the reason for the strong growth rates in 2018 and the beginning of 2019 …” (“The Economy That Wasn’t Supposed to Happen: Booming Jobs, Low Inflation,” The New York Times, 5/03/2019)

“The tax cuts passed at the end of 2017 also probably continue to boost economic activity and hiring along with it, said Mark Hamrick, Bankrate.com senior economic analyst.” (“The US Economy Has Been Growing A Long Time. Here's How It Keeps Adding So Many Jobs,” CNN Business, 5/03/2019)

SEN. CHUCK GRASSLEY (R-IA), Senate Finance Committee Chairman: “[E]vidence of tax reform’s benefits for American workers is overwhelming. Every income bracket received a tax cut … What’s more, it doesn’t take a tax expert to see income, wages, jobs and unemployment numbers have all improved since the enactment of tax reform, reflecting significant benefits for American workers.” (Sen. Chuck Grassley, Op-Ed, “Democrats Are Dishonest On Taxes, Trying To Distract From Economy On The Move,” USA Today, 5/06/2019)

• SEN. GRASSLEY: “Republicans passed tax reform to invest in American workers and American business competitiveness. Before that, President Obama presided over the highest corporate tax rate in the industrialized world…. Now, tax reform lowered the corporate rate and is bringing business back to the United States. This is spurring economic growth and boosting job creation within our borders instead of in other countries. This reform was never about helping corporations, but about helping workers …” (Sen. Chuck Grassley, Op-Ed, “Democrats Are Dishonest On Taxes, Trying To Distract From Economy On The Move,” USA Today, 5/06/2019)

In Communities Large And Small, More Jobs Are Being Created And Workers Are In Demand

KENTUCKY: “An online pet supplies retailer is expanding its operations to Louisville—and bringing 300 new high-wage jobs with it. Mayor Greg Fischer announced Tuesday that the Chewy.com Pharmacy Customer Service Center will being moving into the 88,000-square-foot office space at 3621 Fern Valley Road in southeast Louisville. The Florida-based company will invest $7.2 million and create 300 jobs for pharmacists and pharmacy technicians. The move boosts the city's goal of adding more high-wage jobs to the area, as average wages at the center will be near $35 per hour.” (“Chewy.Com Expansion Bringing Hundreds Of High-Wage Jobs To Louisville,” WLKY Louisville, 5/07/2019)

OHIO: “General Motors said Wednesday it's investing $700 million and creating about 450 new manufacturing jobs in Ohio as it negotiates the sale of its Lordstown, Ohio, factory to electric truckmaker Workhorse Group…. The company said the new jobs it’s creating will be at its Toledo, Parma and Moraine facilities in Ohio…. Workhorse is a Loveland, Ohio-based automaker that specializes in manufacturing electric vehicles.” (“GM To Invest $700 Million And Create 450 Jobs In Ohio As It Negotiates Sale Of Lordstown Plant,” CNBC, 5/08/2019)

NORTH CAROLINA: “Window and door manufacturing giant Pella Corporation will invest $20 million in Rockingham County and create 125 jobs at a new Reidsville regional manufacturing hub, the CEO, state and county officials announced Tuesday. The Pella, Iowa-based privately held manufacturer of commercial and residential building products, plans to make patio doors and its 250 Series vinyl windows in Reidsville …” (“Pella Corporation To Create 125 Jobs, Establish New Regional Manufacturing Hub In Reidsville,” Rockingham Now, 5/07/2019)

• “Job opportunities include posts for production managers, human resources personnel, supervisors and, production technicians and will be available to workers with high school educations, as well as employees with advanced degrees, Pella officials said after the press conference.” (“Pella Corporation To Create 125 Jobs, Establish New Regional Manufacturing Hub In Reidsville,” Rockingham Now, 5/07/2019)

ALABAMA: “The city of Ozark is gearing up for a new economic development project that will bring two new companies and jobs to the area. ‘It’s been a long time since we’ve had 75 new jobs in Ozark - in Dale County of this magnitude,’ said Mark Blankenship, Dale County Commission Chairman. Dale County’s unemployment rate sits slightly above the state average at 4.1 percent. With the newest addition of companies Motobilt Incorporated and Anvil Industrial Group to the area, county leaders hope the number will continue to fall. ‘He’s talking about hiring 20 - 25 people really quickly,’ said Blakenship, ‘They seem to be really excited about it.’ Motobilt is a leading manufacturer of custom fabrication parts for Jeeps and Anvil is an industrial fabricator. The companies will relocate its headquarters and manufacturing plant to the old Petrey building on Van Huesen Drive. It’s estimated the total economic impact is over $5 million.” (“New Economic Development Project Bringing Jobs To Ozark,” WSFA 12 Montgomery, 5/08/2019)

VIRGINIA: “Merck to add 100 jobs, expand Elkton [Virginia] plant … In addition to creating approximately 100 new jobs, Merck plans to add 120,000 sq. ft. to its operation, according to the governor's office. The expansion will help boost production of Gardasil — a vaccine used to prevent human papillomavirus, also known as HPV.” (“Merck To Add 100 Jobs, Expand Elkton Plant,” WHSV Harrisonburg, 5/06/2019)

MISSOURI: “A brand new factory is coming to Poplar Bluff and bringing new jobs with it. According to the chamber of commerce Empire Comfort Systems will break ground on a new 130,000 square-foot manufacturing facility. The company has committed to bringing in more than 100 jobs over the next two years. The chamber president says this is the first brand new facility like this in nearly three decades.” (“Chamber: New Factory Bringing Jobs To Poplar Bluff,” KFVS 12 Cape Girardeau, 5/07/2019)

FLORIDA: “A record 1.35 million workers were employed in the Orlando metropolitan area as of March, the most recent date for which data is available from the Bureau of Labor Statistics…. Meanwhile, unemployment is hovering at just 3 percent. Of the employers surveyed by OrlandoJobs across 17 industries, 80 percent have open jobs, meaning employees have leeway to change jobs …” (Orlando Sentinel, 5/08/2019)