The key takeaway from the nonfarm payrolls is relief. Employment numbers stay above 200,000.
Long term unemployment as a share of total unemployment comes down. Still too high, still a big problem.
Average hourly earnings did rise, but wages increases remain sluggish.
Portion of businesses who answered yes to the NFIB’s survey question, “Are you raising your wages?” has increased. Good indicator for broad wage growth—may see wages pick up in the next six months.