Last year was the best year for jobs growth since 1999.
On Friday, we got the latest jobs report that showed the US economy added 275,000 jobs in February, while the unemployment rate dropped to 5.5%. That marked 12 straight months of job gains above 200,000.
Over the weekend, Bloomberg Chief Economist Michael McDonough tweeted this chart showing where jobs have grown or declined over the last 10 years.
In recent months, there’s been lots of talk about the payroll boom and bust in the oil and gas business, which falls under the “mining” category.
But as you can see, big shifts in demographics have fuelled a secular boom in demand for health care type jobs.
After the jobs report on Friday, economists at BNP Paribas and Bank of Tokyo Mitsubishi said the economy has achieved full employment: The level at which the unemployment rate is tolerable and is mostly because workers are between jobs.
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