February 2015 U.S. employment update and outlook

February 6, 2015
Factoring in sharp upward revisions in November and December, the labor market has registered 267,750 new jobs each month over the past year, well above average this cycle. Unemployment is up slightly to 5.7 percent, but that’s because more people are looking for jobs. Labor force participation is now up to 62.9 percent—a promising sign of confidence, though participation is still near record lows. Other external indicators like consumer confidence, hires, quits and spending all mirror the improvements seen in the labor market of late. We expect them to continue throughout 2015 and into 2016. See more economic, office and real estate research at http://bit.ly/1CCcWBs
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