Businesses now hiring at fastest pace since 2006
The job growth was better than economists expected and perhaps the strongest sign yet that what they call a “virtuous cycle” has taken hold: When people spend more, corporate earnings rise, leading to more hiring and then more spending.
Companies have added more than 200,000 jobs for three months in a row.
“This was really a good report because ultimately it is all about jobs,” said Joel Naroff, president of Naroff Economic Advisors. “More and more, it is looking as if the recovery is on track despite the headwinds it is facing.”