We have previously discussed the importance of labor-force participation (see blog from 09 Jan 2018). The recently reported February jobs report was probably about as good as it gets.
Nonfarm payrolls grew by 313,000, the unemployment rate held steady at 4.1%, wages grew by a too modest 0.1% and, most important, the labor-force participation rate increase to 63.0% from 62.7%, the largest increase in this statistic in years.
An increase in labor-force participation is very important to measured economic growth, particularly as a potential offset to inflationary and interest rate pressures.
All comments and suggestions are welcome.
Walter J. Kirchberger, CFA