More strong economic data confirms that the US economy seems to be shifting into a higher gear after a soft first quarter. The numbers reinforce last week’s message from the labor market, where the US economy has generated more than 200,000 jobs a month for four months straight (something that hadn’t happened since the late 1990s).
New numbers show that small business owners are growing more optimistic too. The National Federation of Independent Business’s gauge of optimism hit a post-crisis high in April.
Likewise, US job openings climbed to a nearly seven-year high in April, according to the US Department of Labor’s Job Openings and Labor Turnover (JOLTs) report.
Yes, there are still plenty of problems in the US job market, such as the underemployment of college graduates, increased part-time work and less-than-gobsmacking wage gains. But all-in-all, these recent economic readings are still very good news.