Wall Street Journal (02/06/15) Josh Mitchell
Over the past three months, which was the best 90-day period of hiring since 1997, the economy has created more than one million jobs, according to the U.S. Department of Labor. Average hourly earnings increased 0.5% in January and are 2.2% higher than the same time last year. However, these wage gains are still historically weak compared with income growth before the recession.
“The economy seems to be moving full steam ahead,” says Sung Won Sohn, an economist at California State University Channel Islands. Following years of tepid growth, “I think it’s the beginning of a healthy recovery.”