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Eight More Things About Yesterday’s Jobs Report

Yesterday’s jobs report was unquestionably positive: Wages rising, more Americans joining the labor force, and new jobs being created. We shared some of the reaction to this news, with economists from all corners—even the skeptics—underscoring just how healthy the job market is and how workers are reaping the benefits from the strong economy.   

Here are a few more highlights, including stories that show why these great numbers matter—they’re making a real difference in the daily lives of Americans working to get ahead:

  1. The Wall Street Journal: “Jeffery Sanford Jr. is among the workers seeing his pay increase at a faster rate. Four years ago, the Baltimore resident and Army veteran said he was working two near-minimum-wage jobs at restaurants and sleeping in a homeless shelter.” … “He pursued training to become a security guard and in 2015 landed a $12.60-an-hour job. The 32-year-old has since been promoted several times by his employer, Allied Universal, including to site manager, and to his current role working to win new contracts for the company. He said he earns $21.60 an hour and is hoping to land a higher-paying salaried position soon.” … “’Things are changing for me,’ Mr. Sanford said. ‘I know what kind of work it takes to earn more money, and it’s really paying off.’”
  2. Associated Press: “Cheyenne Mauzy of Springfield, Missouri, had held out for higher pay when she started job hunting in June. She felt she needed a high enough hourly wage to make up for the cost of child care for her three children. ‘There was a minimum we had to make,’ Mauzy, 28, said, referring to calculations she made with her husband. ‘I had to bring home enough on top of child care. If I am just going to work to pay for our child care, I should be our child care.’ In late August, she took a job at a hospital in Springfield that pays $11.22 an hour.
    • “’It doesn’t get any better than this,’ said Sun Wong Sohn, chief economist at SS Economics. ‘Evidently, the word has spread that there are good jobs to be had at decent wages.’”
    • “Becky Frankiewicz, president of staffing firm ManpowerGroup North America, said companies are trying a variety of strategies to fill jobs. Many retailers are removing the label ‘seasonal’ from their job postings and looking for permanent workers instead. Others are dropping their requirements for a college degree. ‘We absolutely see employers getting more and more creative about ways to get people in,’ Frankiewicz said.”
  3. PBS: “The job gains were over a broad base of sectors from health care to manufacturing, which economists say is a good sign of growth across the entire economy.” … “’It’s a terrific report. There is nothing you can’t love in here,’ said Dan North, chief economist at the credit insurance company Euler Hermes North America.”
  4. POLITICO: “’It’s definitely a strong signal that workers are finally beginning to see the growing economy reach their paychecks,’ said Elise Gould, senior economist for the left-leaning Economic Policy Institute.”
  5. CBS: “’This is an astonishingly good jobs report,’ said Julia Pollak, labor economist with the job site ZipRecruiter. ‘With the labor participation rate up .2 percent, it shows that people are still coming in off the sidelines. Many people thought that would not be the case.’”
  6. WSJ Editorial: “Don’t think tax reform and deregulation matter for working people? Consider the evidence from Friday’s gangbuster jobs report for October that showed the tangible dividend for workers from faster economic growth resulting from better economic policy: More jobs to choose from and higher pay to boot.” … “…thousands of Americans have been waiting for the right job, or a better paying one, because the civilian labor force grew by 711,000 in October and four-fifths of them found jobs.” … “GOP growth policies rescued an economy that was fading fast.”
  7. AP: “The unemployment rate for Americans of Hispanic or Latino ethnicity fell to 4.4 percent in October, the lowest recorded level for this group since 1973.” … “A hot labor market and rising wages have helped pull these workers off the unemployment rolls and into jobs.”
  8. New York Times: “’It’s really the strongest part of the broader economy at the moment,’ Michelle Girard, chief United States economist at NatWest Markets, said of the labor market.” … “Job opportunities are also rippling out to groups that were largely bypassed during much of the recovery: African-Americans, Hispanics, less-educated workers and people with disabilities have all seen their unemployment rates drop in recent months.”

It’s possible the Chicago Tribune said it best in an editorial out yesterday: “There are plenty of measures of American satisfaction and security, but having a job is fundamentally important. Growth creates prosperity.” … “In other words, everything positive starts with jobs.”

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