The labor market stomped on Omicron. Although the variant was expected to extract a toll on the January employment situation, the report was much stronger than expected.
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The school year is almost over and that means thousands of high school students are about to start new jobs. While many are building their college applications by securing unpaid internships, I have always liked the idea of earning money. My own summer jobs included: day camp counselor, receptionist, referee and clerk. Here are 7 things that I learned along the way.
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The unemployment rate edged down to 3.9 percent in April, the lowest level since December 2000. To put that into perspective, the top song in the U.S. that month was “Independent Woman, Pt 1” by Destiny’s Child, long before Beyoncé Knowles was known as “Queen Bey” or had a “Beyhive” with millions of followers! But I digress. According to the New York Times, “In the last 60 years, there has been only one sustained period where unemployment stayed below 4 percent: the late 1960s.”
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What better way to celebrate the ninth anniversary of the bull market than with a strong employment report? The economy created a better than expected 313,000 new jobs in February, higher than the anticipated 200,000. The strength was seen across a variety of sectors: retail increased by 50,300, construction was up 61,000, manufacturing added 31,000 jobs and professional & business services employment added 50,000.
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