WASHINGTON (AP) – Voters who want a reminder of just how quickly the economy is recovering will have today’s unemployment report to look over.
It again reflects a lukewarm but durable economy — with employers adding 161,000 jobs last month, enough to bring the unemployment rate down a tenth of a point to 4.9 percent. With the unemployment rate near healthy levels, businesses are likely trying harder to attract workers.
Average hourly pay is up 10 cents. It’s now 2.8 percent higher than a year ago, the biggest 12-month increase in seven years.
Economist Jed Kolko of the job site Indeed says, “If you wanted to show that the economy is still getting better for the typical voter, this report gives you what you needed.”