A strengthening labor market will not let up this year, economists say, with job growth approaching or exceeding the estimated 15-year high reached in 2014.
The stronger U.S. economy and increased employer confidence should continue to bolster job gains, and economists expect sluggish wage growth to finally accelerate, though they’re divided on how quickly that will happen.
Employers added 321,000 jobs in November, the most in nearly two years, and 2014 is on track to be the strongest for job growth since 1999. Economists expect a Labor Department report Friday to show that 230,000 jobs were added in December, according to median estimates, slightly below the 241,000 average for the first 11 months of the year.
This year, many economists expect low gasoline prices and rising household wealth to drive consumer spending, offsetting weakness overseas and helping the economy to grow at least 3%, vs. an estimated 2.4% in 2014
The biggest issue facing contractors today is an ever increasing market growth without the labor to perform the work required. Skillforce has over 20,000 skilled tradesmen each individually screened to perform the task at hand, and our labor pool continues to grow every year.
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Job outlook for 2015: Work aplenty (like it’s 1999)