UNITED STATES—The first monthly Employment Situation Report of 2019 by the Bureau of Labor Statistics (BLS) indicate an all time high for job increases.
A report on The White House website indicates that the jobs in the United States are on the rise. The nonfarm payroll employment for January 2019 increased by 304,000 jobs passing market expectations by 165,000 and above the previous 212,000 average gain.
January 2019 marks the 100th consecutive month of positive job growth and the 16th consecutive in a row of employment growth.
The economy has grown by more than 4.9 million jobs since January 2017, an increase of 5.3 million jobs since Donald Trump was elected president.
The breakdown of jobs include:
-Mining and logging jobs up by 7,000 jobs
-Transportation and Warehousing up by 27,000 jobs
-Education and health services up by 55,000 jobs
-Leisure and Hospitality with an additional 74,000 jobs
The report reflects a wage increase of 3.2 percent in the last 12 months.
January is the sixth consecutive month in year over year wage gains equal to or above 3 percent. Records indicate that prior to 2018, there has not been growth of 3 percent or better since 2009.
According to the Consumer Price Index (CPI-U), inflation went up 1.9 percent and unemployment rose by 0.1 percent reaching 4 percent for January 2019, which is the 11th straight month unemployment has stayed at 4 percent or lower.
“With continued low unemployment rate, historic trends in job gains, and rising wages, the employment report provides further evidence that the Administration’s prow-growth, pro-worker policies are working,” states the report.
Written By Sharon Stice