Last month more jobs were created in the nation’s private non-farm sector than economists predicted. According to the ADP’s National Employment Report the entire private sector added 135,000 jobs in September, 10,000 more than WSJ economists were anticipating.
67,000 of these new positions are in large businesses and medium sized businesses added 39,000 jobs. Small businesses also did well with an additional 30,000 new jobs.
Despite the fact that there are significant problems within America’s economy, the job market is on solid footing. Unemployment has remained at the same 3.7 percent and there have been 107 months of continued job growth. In addition, salaries have gone up by 3.2 percent over the last 12 months and unemployment rate in minority groups has decreased (African-American unemployment dropped .5%, a record low data since 1972.
So if there are issues with the US economy (which there are), as long as job creation continues to rise, so does optimism alongside it.