Stronger than expected job growth
Feb 7, 2020, 6:53 AM
Turner worker working on drill bit in a workshop (Getty Images)
(Getty Images)
SALT LAKE CITY — The US Labor Department is reporting that there was 225,000 jobs added to the economy, much more than the 160,000 that was expected.
Zions Bank Vice President of Consumer and Public Policy Robert Spendlove says there’s a lot to love about this report.
“Were expecting about 160,000 jobs to be created last month and it’s come in at 225,000 jobs. The unemployment rate is looking good, wage growth is strong. There’s a lot of good things about this report,” Spendlove told Utah’s Morning News.
Spendlove says that for the past year wage growth has been slowing, but that has reversed this month.
“We’ve went from 2.9 up to 3.1%, so we’re finally starting to see a return to what we would expect in this kind of labor market,” he says.
You can hear the rest of Robert Spendlove’s analysis of the unexpected jobs numbers below.
Utah’s Morning News can be heard weekdays from 5 am to 9 am on KSL 102.7 FM
