The economy produced 353,000 jobs to start the year, about two times the expected result. The unemployment rate remained at 3.7 percent and importantly, average annual wages were up by 4.5%.
In parsing these headlines, it's important to distinguish between industries that are still robust (tech) and those that are actually consolidating (traditional media). For example, Amazon has reduced the number of total employees globally from a peak of 1.6 million in 2021, to about 1.5 million as of the end of last year.
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