According to ADP and Moody’s, the economy added 275,000 new jobs in April, once again confounding those pessimistic forecasters.

 

As recently as March, many were saying that the U.S. economy for all intents and purposes had stalled in the first quarter of 2019, but the U.S. economy grew at an annualized rate of 3.2 percent in the first quarter of 2019.

Initial claims for unemployment insurance are the lowest seen since 1969, when the U.S. workforce was half the size that it is now. Raising the federal minimum wage, however, would put more people out of work.

It has taken two years to return the economy to full throttle, and its beneficiaries are now settling in for the rest of the trip.

Retail businesses lead all sectors in job cuts; 41,201 employees have lost jobs through February — 92 percent higher than the 21,484 job cuts made through February 2018.

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