- May 18, 2022
- Posted by: Stratford Team
- Category: Economy
The latest jobs report shows that the U.S. economy continues its rapid recovery from the pandemic crisis. Employers added 428,000 new jobs in April, continuing a now-year-long streak of similarly strong job growth. After surging to a post-World War II high of 14.7% in 2020, unemployment is now down to 3.6%, the lowest level in 50 years.
The employment data mirror other indicators of our strong recovery. Private consumption and business investment have almost completely returned to pre-2020 trends, and household income and wages — even controlling for inflation — are higher now than they were in 2019. Labor force participation, which had fallen from 63.4% to 60.2% in early 2020, has risen again to 62.2%.
The speed and scale of this recovery is without precedent in American history.
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