In a series of blog posts last week, Commonwealth Financial Network chief investment officer Brad McMillan discussed just what’s going on with labor shortages in the U.S. economy.
U.S. nonfarm payroll growth in June grew by 850,000 jobs, exceeding the Bloomberg consensus estimats of 700,000 jobs added by 150,000, pointing to a faster-than-expected acceleration. Additionally, private payrolls beat expectations of 600,000 jobs added by 62,000, according to the figures released Friday by the Bureau of Labor Statistics.