Is the economy surging or sleepwalking?

Published December 12, 2017 5:57pm ET



The latest Bureau of Labor Statistics jobs report on November employment gains brought strong evidence of payroll growth, but elicited two decidedly different news responses. About 228,000 workers were added to November payrolls, following October’s 244,000 and well ahead of 2017’s average monthly gain of 174,000.

Relishing the good news, The Wall Street Journal’s print headline read “Hiring Growth Powers Economy.” The more sedate New York Times, it seems, was not quite ready to loosen seatbelts and release trays from a locked, upright position. That paper’s headline read, “After 7 Years of Job Growth, Room for More, or Danger Ahead”?

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