Happy Friday one and all! According to the Department of Labor, it’s a happy Friday indeed.
That’s because their numbers reflect employment increases of 288,000 new jobs, significantly crushing the initial estimates of 210,000 to 220,000 new jobs. This number also pushed back unemployment by .4 percent. It may not seem like a lot but that makes it a five-and-a-half year low of 6.3 percent.
According to Fortune, there’s a bleak undertone…Americans who are jobless remain jobless and discouraged by slim prospects. The report today also mentioned the labor force decreased by 806,000. This is equivalent to .4 percent, thereby remaining behind pre-recession levels.
The Bureau of Labor Statistics indicated an analysis of their household survey implied the labor force decrease was a result of fewer people actually entering the labor force instead of people exiting it.