Strong U.S. Employment Continues

Have you heard that payroll growth in this decade has been weaker than payroll growth in the 1990s? If so, you’ve been the target of yet another huge distortion of reality by the “panic du jour” crowd. What’s really happening, and what are the implications going forward? We’ll explain.

Today’s economic pessimists never tire of pointing out that payroll job growth in this current cycle has been weaker than in the 1990s. But, assuming they are right, what are the implications? How big of a problem is.....