Andy spoke with Neil on Saturday to discuss the strong June jobs report.
“If we’ve got labor participation going up, if we’ve got people coming back into the labor force and we can keep that unemployment rate under 5 percent – that’s terrific, that’s wonderful for the American people,” said Andy. “What I watch are construction and transportation. If we’re hiring more truck drivers and we’re hiring more people to build things, that means the economy is heading in a very positive direction… these are good, working-class jobs that are very strong indicators that the economy is really starting to accelerate.”
On the topic of wage gains keeping up with the tightening labor market, Andy explains that the percentage increase of earnings, year-over-year, for nonmanagerial employees was 3.8 percent. “You’re really seeing that lower group… experiencing increases,” said Andy. “You’re not seeing it at the management level – the real demand is for workers.”
Click here to see the video.