#jobsday On the whole, this is a very positive report. The job growth is somewhat higher than can be sustained over the long-term, but not hugely so.
Sectors that had trouble hiring, most notably health care, are catching up.
Most importantly from an inflation perspective, wage growth is now very close to being at a non-inflationary pace.
The annual rate over the last three months was 3.9 percent. That compares to 3.4 percent in 2019, when inflation was comfortably below the Fed's 2.0 percent target
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