Hicks: National Jobs Report 'Solid'

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Mike Hicks is the director of the Ball State Center for Business and Economic Research. Mike Hicks is the director of the Ball State Center for Business and Economic Research.
MUNCIE -

The country added 224,000 jobs last month and the national unemployment rate remained unchanged at 3.6 percent. Ball State University Economist Michael Hicks calls the most recent numbers "solid" but says there is still room for concern.

The majority of job gains were in the healthcare and professional services sectors, however transportation and manufacturing also gains after several months of flat growth, according to Hicks. He adds the steady unemployment rate and number of new jobs both signal slowing labor markets.

"Employment is a lagging economic indicator," said Hicks. "Though this is a solid report, it should not dampen concern over the slowing international and national economy."

Hicks says wage growth slowed in May, but remained at 3.1 percent year-over-year, which is above inflation and consistent with full employment. The June unemployment report for Indiana is set to be released July 19.

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