Unemployment Drops To 3.9% In July

GURPS

GURPS

INGSOC
PREMO Member
July saw more good news for the economy; the U.S. unemployment rate dropped to 3.9% as the U.S. added 157,000 new jobs. The Labor Department stated, “Employment increased in professional and business services, in manufacturing, and in health care and social assistance … the number of unemployed persons declined by 284,000 to 6.3 million in July. Both measures were down over the year, by 0.4 percentage point and 676,000, respectively.”

MarketWatch reported, “The average wage paid to American workers rose by 7 cents, or 0.3%, to $27.05 an hour. The yearly rate of pay increases was unchanged at 2.7%.”



HOLDING STRONG: Unemployment Drops To 3.9% In July



:oldman:
 
MiddleGround

MiddleGround

Well-Known Member
GURPS said:
MarketWatch reported, “The average wage paid to American workers rose by 7 cents, or 0.3%, to $27.05 an hour. The yearly rate of pay increases was unchanged at 2.7%.
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Would be nice if Marketwatch also included the never changing cost-of-living increase rate of between 3 and 3.5%

I like that the unemployment rates are way down but, when will the wage/pay increases begin to match or exceed cost of living again? It hasn't in about 8-10 years and the effects have been showing.
 
T

transporter

Well-Known Member
GURPS said:
July saw more good news for the economy; the U.S. unemployment rate dropped to 3.9% as the U.S. added 157,000 new jobs. The Labor Department stated, “Employment increased in professional and business services, in manufacturing, and in health care and social assistance … the number of unemployed persons declined by 284,000 to 6.3 million in July. Both measures were down over the year, by 0.4 percentage point and 676,000, respectively.”

MarketWatch reported, “The average wage paid to American workers rose by 7 cents, or 0.3%, to $27.05 an hour. The yearly rate of pay increases was unchanged at 2.7%.”



HOLDING STRONG: Unemployment Drops To 3.9% In July



:oldman:
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This was a good employment report.

Too bad you focus on the wrong aspects of it. A .01 change in the unemployment rate is essentially irrelevant and is a rounding error.

The focus on the 284k fewer unemployed was offset in part by the 94k who left the workforce.

The headline jobs number was significantly below estimates (40-50k below the consensus...depending on which consensus you used). However, the revisions to April and May were positive.

All of this data is readily available...all you have to do is go look at it. It's not that hard.

The employment trend that has been in place for years continues.
 
T

transporter

Well-Known Member
Gilligan said:
You must have missed it....been climbing again.

https://tradingeconomics.com/united-states/wage-growth
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Oh man...you think wages are going up by 4.59%???? No wonder you are so deluded.

Here is the portion of the employment report release for July:

In July, average hourly earnings for all employees on private nonfarm payrolls rose by 7 cents to $27.05. Over the year, average hourly earnings have increased by 71 cents, or 2.7 percent. Average hourly earnings of private-sector production and nonsupervisory employees increased by 3 cents to $22.65 in July. (See tables B-3 and B-8.)
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https://www.bls.gov/news.release/empsit.nr0.htm


The BEA reports "personal income", which is what Trading Economics is showing you. Please see Table 3 on the latest personal income report that breaks down the components. https://www.bea.gov/newsreleases/national/pi/pinewsrelease.htm

Can you read a spreadsheet???
 
Gilligan

Gilligan

#*! boat!
PREMO Member
transporter said:
Can you read a spreadsheet???
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Oh hell baby..you know I can. You've seen me do it. Now go back, straighten it up, tuck the corners again, and dust all the wrinkles out of it so it will be ready for later. You such a wild thing!...
 
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