The Labor Virtues of Growth – The Wall Street Journal

Economic growth is out of political fashion these days, as intellectuals on the left and right put a higher priority on reducing inequality. Yet as Friday’s blowout jobs report for November showed, the best way to lift Americans from the bottom up is a growing economy that produces a robust labor market.

Job gains exploded on the upside with 266,000 added for the month, on top of upward revisions of 41,000 for September and October. The jobless rate fell again to 3.5%, which is a 50-year-low. Job growth has averaged 180,000…


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