Despite the recent roller coaster on Wall Street, we were glad to see the Labor Department’s report for January 2018.
Across the country, employers added an astonishing 200,000 jobs last month – with the current unemployment rate at 4.1 percent. As for Texas, according to the ADP Regional Employment Report, the state added 28,000 private sector jobs during January.
Nationally, wages saw an increase by the fastest pace since the recession ended eight years ago. Analysts suggest the raise in wages could be due to three factors: a narrowing pool of workers, the recent tax cuts and minimum wage increases in 18 states.
Overall, the numbers from January seem to suggest a strong economy, and increased growth this year. We are excited to see what 2018 brings!