It appears that, finally, job creation in the U.S. is actually occurring.
At least, that’s the impression Americans seem to have.
The folks over at the well-known research company Gallup conduct a survey on behalf of a proprietary measure of theirs known as the Job Creation Index. The basis of the “measurement,” such as it is, is the perceptions that U.S. adults have regarding whether their employers are in a hiring mode, or if they’re instead in a phase where they’re laying off. The computation simply involves subtracting the percentage of those folks who say their employers are in a firing sort of mood…from the percentage who say their employers are more interested in hiring.
Gallup reports that after a year in which the index was basically flat throughout, 2017 has been a much different story, with the measure at +35 in February and now, we learn, at +37 in March. To break down the February number, 44 percent of employees said in that month that their company was hiring, while just 9 percent said their company was laying off - hence the +35 figure for that month. In March, the percentage who said their company was hiring rose to 46 percent, while those saying it was firing remained at 9 percent.
“The continued record highs in the Gallup Job Creation Index coincide with several positive economic signals,” said Gallup. “The Bureau of Labor Statistics' job creation estimates for January and February both exceeded expectations. Additionally, while currently down from record highs, the stock market has performed well over the past several months, and the Nasdaq composite ended the first quarter of 2017 with its best performance since 2013.”
By Robert G. Yetman, Jr. Editor At Large