http://www.economist.com/blogs/freeexchange/2015/02/americas-labour-market
This article explores the status of job creation in the US as of February 6th, or last Friday. The economy has increased about 257,000 jobs in January which was higher than expectations. There were also revisions to employment statistics in December and January in which employment was higher than it was thought to be. Although the unemployment rate increased slightly, reaching 5.7%, it shows signs of an increasing labor force not necessarily a decline in jobs. Capital Economics mentioned how the economy is at it's strongest pace of job growth since 1997 from the creation of 1 million additional jobs in the last three months. Another interesting factor in this article is about wages, One wouldn't typically think that wages had increased over time since most of the jobs created are lower wage. Data shows that the average hourly wage increased 0.5% in January after declining in December.
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Congress' refusal to lengthen unemployment wages forced individuals back into the job market. Although, I agree with legislation, it has created an unintended consequence. Individuals are hesitant to fight for higher wages. They are worried if they do so, potential employers will find someone else for the job. It forces individuals who are looking for jobs specific to their qualifications to take odd jobs.
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