U.S. job growth is better, but is it ‘good?’ Analysis: Hiring still not fast enough four years after recession ends
WASHINGTON (MarketWatch) — What’s a “good” number for how many U.S. jobs are created each month?
The answer is not as easy to figure out as it might seem, but one thing is clear: The economy is not adding jobs fast enough.
A good number depends on a handful of key factors, such as the current health of the economy or how many people are out of work. An average monthly increase of 150,000 in net hiring might be good in one particular year but weak in another.
By historical standards, the U.S. in 2013 has been generating an above-average increase in the number of new jobs — some 192,000 a month through July, based on the most recent Labor Department data.
Related: Rex Nutting on the truth about part-time jobs explosion
By comparison, the economy generated an average of 133,200 net jobs a month in the 30 years from 1983 to July 2013. (The average was 171,400 up until the first month of the 2007-2009 recession).
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