Robust labor market growth continued unabated in the first month of 1999, contrary to early predictions of slowing. Nonfarm payrolls increased 245,000, which is just above 1998’s average monthly payroll growth and about equal to the average for 1998:IVQ.
Suggested citation: "Labor Markets," Federal Reserve Bank of Cleveland, Economic Trends, no. 99-02, pp. 11, 02.01.1999.