Current economy- job outlook!

Still no job? No worries- according to a report yesterday from the Labor Department, 157,000 new non-farming jobs were created last month! Higher demand for production in US factories and the influx of demand for new employees invigorated the economy and the dollar has risen to its highest value versus the yen in 9 months. The dollar is also at its 7 week high against the euro. The economy is expected to continue growing for the rest of the year. Foreign demand has increased production for companies like Boeing, which received 136 new orders in April, a record this year. The Federal Reserve announced it expects steady growth in the next few months and its main concern is inflation. With the Federal Reserve holding steady on interest rates, the dollar should continue to strengthen.

The other good news is that real incomes are increasing- so the base salary you will get is going to cover more than it did for grads last year, taking inflation into account! Year-over-year wages grew 3.8% over last year, which was more than inflation. Here’s a link to a Bloomberg podcast interview of Michael Englund, chief economist at Action Economics LLC. Mr. Englund comments on the recent employment numbers.


Bloomberg_vCBYm9yP2kp0.mp3