This is Mary Walden with economist MW, welcoming you to the economic perspective. Today’s program looks at the job market entering 2020. Mike, jobs are the major contact most people have with the economy. As we move in to 2020, how is the job market looking?
Mike: Summary Answer
- Looking very good
- Jobs being added; unemployment rate at 50 year low
- Wages are rising faster than inflation
- Importantly, wages are rising fastest for low wage workers
- Workers are getting a bigger piece of the total economic pie
- Job market is pulling more people into the market who previously had left
- Still challenges – many people need upskilling
- Addictions keeping many from working
- Slowest growth is in middle paying jobs
- I’m MW
Mary: And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economics.