Posted on 07/06/2018 6:49:58 AM PDT by GonzoII
The employment part of the economy continued to power forward in June, adding another 213,000 jobs though the unemployment rate rose to 4 percent, according to a government report Friday.
Economists surveyed by Reuters had expected a nonfarm payrolls gain of 195,000 and the jobless rate to hold steady at 3.8 percent, which had been tied for the lowest since 1969.
Another solid month of job gains provided little help to wages. In addition to the payroll gains, average hourly earnings rose 2.7 percent year over year, a bit below expectations of a 2.8 percent increase.
Despite increasing talk about the economy being near full employment, hiring continues to grow. Along with June's upside surprise, the Bureau of Labor Statistics revised April's count up from 159,000 to 175,000 and May's from 223,000 to 244,000, a total of 37,000 more than initially stated.
After the report, the Dow opened lower, while the S&P 500 was flat,
The increase in the unemployment rate came due to a rise in the labor force participation rate, which increased 0.2 percentage points to 62.9 percent as 601,000 people came off the sidelines and re-entered the labor force. A more encompassing measure of unemployment that includes discouraged workers and those at part-time jobs for economic reasons also rose two-tenths, to 7.8 percent.
(Excerpt) Read more at cnbc.com ...
Unexpected...
CNN is deeply troubled.
Anyone with a brain knew the Obama administration was lying about the number of unemployed when virtually every family had members who had lost their jobs. So now, 600,000 entered the workforce last month, 100,000 of whom did not get hired, which explains the 4.0% number. But there were 95,000,000 out of work Americans, so we have a long way to go before we have to import labor. Are you listening, Chamber of Cronies?
Bottom Line - GREAT NEWS! THINGS ARE ALL GOING IN THE RIGHT DIRECTION.
Time to up those wages, guys!
Good times, and tight labor pools will necessitate it.
We have to expect wage growth to lag behind decreasing unemployment numbers. People who have never worked or who have not worked in a long time necessarily start at the bottom and work their way up.
In addition, the decrease in unemployment will slow when more people enter the job marketplace. The number that counts is the number of employed people, since the unemployed numbers leave several categories of jobless people out of the calculations.
The Trump economy continues to boom. Awesome.
That 95 million includes retirees, senior HSs and kids in college that don’t want to work, as well as disabled and mentally handicapped. The real # of out of work is far, far lower. We just need wages to get moving and go above 3%.
-—Despite increasing talk about the economy being near full employment, hiring continues to grow.—
I think this is for two reasons: First, some who are no longer counted in the unemployment numbers are now working, and second, some people have secured a second, or even third, part time job to make ends meet.
Or maybe some foreigners who were never a statistic one way or another (H1B).
LOL!
And Bill Maher is too.
Wagees will rise as the market permits
We do not need and will not get artificial feel good wage increases.
When wages do begin to rise in earnest, so will general inflation.
You can almost hear the underlying desperation between the lines of this piece. The media are terrible bluffers.
And magically, after decades of not noticing stagnant wages, suddenly the failed media is now worried about them?
Amazing on who is in the White House decides how they report “the news”.
Jobs increase...
Wages flat...
Hmmm, you haven’t had a decent job in months or years. I wonder what’s more important, a job or a raise.
Gosh that’s a hard one.
I realize there are many more people employed that folks entering the work force, but isn’t it amazing how CNBC and other NEWS outlets can’t simply report good news without some sort of ding on the side.
How were raises under the immaculate president?
We just came through a wave of bonuses and wage increases after the tax cuts. Now CNBC is back to harping...
The tax cuts themselves were a raise of sorts.
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