Terrific Toil

Friday’s employment report rocked! The unemployment rate fell from 5.1% to 5.0%, net job growth was a strong 271,000, and in what may be the start of something big, average hourly earnings rose 2.5% Y-o-Y, its best showing since 7/09. Additionally, the broadest measure of unemployment declined to 9.8%; best level since 5/08. Lastly, the unemployment rate for those over 24 without a HS diploma plunged from 7.9% to 7.4%.