Economic Indicators | Jobs and Unemployment

News from EPI January caps off more than six years of steady job growth under President Obama

The Bureau of Labor Statistics announced today that the economy added 227,000 jobs in January, capping off more than six years of steady job growth under President Obama. As I’ve said before, President Trump is inheriting an economy on its way to full employment, but there is still more work to do. While there are no obvious economic risks to the recovery, job growth has been slowed by austerity at all levels of government and wage growth is still below where it should be. At 2.5 percent, year-over-year nominal wage growth is slower than December and exhibits no increase in inflationary pressures on prices. We should work to further tighten the labor market, which would boost wages for working people and ensure that the recovery reaches families and communities that have heretofore been left behind. Furthermore, we must be focused not just on creating jobs and continuing to pull people in off the sidelines, but creating good jobs—using the tools at our disposal to give workers more bargaining power, raise wages, and strengthen labor standards. The true test of the new administration is not just whether the economy adds more jobs, but whether jobs are safe, secure, and fairly compensated.

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