Good News and Bad

From Holden:

First, the good news.

The US economy generated 211,000 jobs in March, surpassing analysts expectations and adding to confidence that economic growth has remained robust.

Now, the bad.

Average hourly earnings for production and non-supervisory workers -around 80 per cent of the labour force – rose by just 0.2 per cent over the month. Over the year this was a 3.4 per cent rise.

Wages are still struggling to keep pace with the rising cost of living.

Employment in the manufacturing sector fell by 5,000 – continuing a downward drift in this politically sensitive sector.

There was also no increase in overtime hours or the average work week, measures used by economists as a gauge of rising demand for labour by companies.