Jobs are booming, and Democrats are puzzled – AEI
Is it overstating things to say the US economy is, well, booming? After all, the May jobs report was pretty impressive, including a) 223,000 new jobs, b) an uptick in average hourly earnings growth to 2.7% from a year ago, c) a downtick in the jobless rate to 3.8% – at 3.755% unrounded, the lowest since 1969 – and d) a two-tenths decline in the U6 underemployment to 7.6% – its lowest level since 2001.