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Some Growth, Still Plenty of Slack

 be ‘without a blemish.’ Job creation remained strong and wages grew as well. I agree that there was a lot to like about it, but it also strikes me that the enthusiasm it’s generated is a bit unsettling because it shows me how far our expectations have been diminished.
At first glance, job growth looks quite torrid. The New York Timesthat “Since Nov. 1, employers have hired more than one million new workers, the best performance over a three-month period since 1997.” This sounds a bit better than it is: we need to keep in mind that there are also a lot more Americans of working age now than there were in the 1990s, so we need to generate more jobs just to hold steady.
 
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