Jpmorgan Chase Chief Economist: Wage Growth Will Start To Rise As Labor Market Tightens

Published on June 4, 2015
Channel: Thestreet
Category: News & Politics
Source: Youtube

Some 225,000 jobs were created during May, according to estimates from JPMorgan Chase’s chief economist Anthony Chan. ‘I think we’re continuing to see the labor market show signs of improvement,’ he said in an interview. ‘Businesses are feeling a little more confident about hiring and of course, if the economy slips or falters, they may change their mind in the next couple of months, but so far everything seems to point in the direction of continued job growth.’ Chan also thinks the labor market will recover from the weakness seen during the first quarter, where job creation averaged 191,000 per month, according to the Bureau of Labor Statistics. That’s down from 288,000, during each month of 2014’s fourth quarter. ‘I think if you look at the last five years, or at least four of the last five years, you’ve seen a lot of weakness in the first quarter and then you see a bounceback.’ Chan is expecting a bounceback during second quarter, but said the weakness during first quarter was not so severe, hence why investors shouldn’t expect a significant rebound during second quarter. Subscribe to TheStreetTV on YouTube: For more content from TheStreet visit: Check out all our videos: Follow TheStreet on Twitter: Like TheStreet on Facebook: Follow TheStreet on LinkedIn: Follow TheStreet on Google+: