US Added Jobs in Right Places, Sonderling Says

Summary

US Deputy Secretary of Labor Keith Sonderling discusses the latest jobs report, arguing that the 50,000 payroll gain and 584,000 annual net increase show positive job creation with private-sector growth and government shrinkage. He expects manufacturing reshoring and a construction-and-manufacturing boom this year as foreign investment and factory groundbreakings accelerate. He avoids giving a clear view on whether the Fed should cut rates, pointing instead to inflation down, wages up, and better-than-expected GDP.

• Sonderling calls the jobs report positive, with 50,000 new jobs and 584,000 net annual payroll growth.
• He says private-sector hiring rose while government jobs fell, fulfilling a right-sizing pledge.
• He expects manufacturing reshoring and trillions in foreign investment to drive factory construction.
• He sees infrastructure and factory construction as the first step before a manufacturing hiring boom.
• He declines to state whether the Fed should cut rates despite being asked about a hot economy.
• He cites inflation down, wages up, and better-than-expected GDP as supportive for more job creation.
• He emphasizes Department of Labor spending on skills, trades, apprenticeships, and workforce grants.