This Labor Day, the economy continues its slow march back from the Great Recession even as the stock market remains a roller coaster. Employers are adding jobs, and there are promising signs of strength across a variety of sectors. But there remains room for improvement in ways large and small that could lift millions out of poverty and stabilize families on the brink of financial collapse.
There is much to cheer about the nation's economy. Employers have added about 1.69 million jobs this year. The unemployment rate is a manageable 5.1 percent nationwide and 5.4 percent in Florida, though stubbornly stagnant in recent months. Recently revised gross domestic product figures show that the economy contracted less than previously thought during the first quarter of the year, 0.2 percent versus an initial forecast of 0.7 percent. The economy was buoyed by robust consumer spending. Separately, officials at the Federal Reserve are signaling confidence in the economy's strength by indicating that they may raise short-term interest rates by the end of the year.
The American worker also logged meaningful victories this year. Several major retailers agreed to raise employee wages. The behemoth employer Walmart said it would pay its workers at least $9 an hour immediately and raise that to $10 an hour by February. Separately, at the urging of the New York state attorney general, several retailers have revised burdensome scheduling practices that leave workers struggling to balance work and family life. Starbucks, for example, said it would stop the practice of "clopenings," scheduling workers to close a store and open it again the next morning. Others, including youth clothier Abercrombie & Fitch, pledged to discontinue erratic on-call scheduling, a practice that requires employees to be ready at a moment's notice without the guarantee of work. The Gap Inc., which owns brands including Banana Republic, Old Navy and the Gap, recently got on board. And fast-food workers continued a multistate campaign, Fight for $15, for higher wages in that industry. Their efforts have resulted in an invitation to the White House for a summit in October.
Despite clear progress, there's room to do more to help American workers. Unemployment numbers could mask a large number of people who have grown dissatisfied and dropped out of the labor force. Those who are working need full-time jobs that pay a living wage, as income stagnation continues to weigh on employees. The Labor Department is encouraging Congress to help lift employee wages by amending overtime laws so that more people are eligible. Lawmakers also should raise the federal minimum wage and require paid sick leave and parental leave. Where the will does not exist to make improvements at the federal level, states and businesses should step up, as did 20 states in January when they raised their respective minimum wages. Now, 29 states, including Florida where the minimum wage is $8.05 an hour, and the District of Columbia have minimum wages above the $7.25 an hour federal standard. These are necessary changes that will allow workers to have enough income to afford housing, food and clothing and make wages that are commensurate with full-time work.
Labor Day may have been a creation of union organizers, but over the years it has come to be known as a day to support the efforts of all workers. Even in an economy that is showing frustratingly slow growth, there is reason to pause and give thanks. The country appears to be moving in the right direction.