The sensible response to a darkening job picture

After five years or so of strong job growth, the economy has slowed and private-sector employment has fallen for the past three months. The fall is due primarily to job losses in the construction and manufacturing sectors. However, as Rea Hederman and James Sherk of the Heritage Foundation point out, wages have continued to grow at a solid pace, and the unemployment rate (4.7 percent) is still historically low. In short,