The number of jobs in the US has gone up more than anyone expected. But the increase in wages is slowing down.
What it means: Great news if you're out of work. There were 313,000 new jobs in the US in February, compared to the 200,000 predicted. Construction jobs led the way, with 61,000 new positions, followed by retail and professional and business services (50,000), manufacturing (31,000) and financial activities (28,000). Health care added 19,000 while mining saw 9,000 new jobs
But not so great if you're in work. Wages didn't rise as quickly as hoped. That could be because there are still a lot of people looking for work, which means competition for jobs is high.
Investors are pretty happy. Jobs are often used as a sign the economy is doing well and businesses are producing lots. And although it would be much better for workers if wages rose, investors get worried that if businesses pay their staff more they'll increase prices, which leads to inflation. They're calling it a 'goldilocks' economy: just right (for investors).
It’s not just about what you do, it’s where you do it. Workplaces can create and cut jobs, borrow money and interact with the financial market, and buy and sell products from other workplaces, affecting their financial situations. There’s also the question of whether our workplaces should be taking care of us, or whether that’s the government’s job…