by Wolf Richter
A party pooper showed up.
The future for employment looks bright. The gig economy is firing on all cylinders. The FOMC, in its statement concerning its interest rate decision today, was practically gleeful about employment and where it’s headed:
A range of recent indicators, including strong job gains, points to additional strengthening of the labor market.
The Committee currently expects that, with gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace and labor market indicators will continue to strengthen.
Elsewhere, employment has been cited as one of the strong points of the economy. Companies have been hiring and creating jobs by the millions since the Great Recession, bringing total “non-farm employment,” as defined by the Bureau of Labor Statistics, from a low of 129.7 million in February 2010 to 143.6 million in February 2016. That’s nearly 14 million more employed folks!