Jobs Report: Headline Misses Lowest Estimate, Wage Growth Firm, Unemployment Rate Ticks Back Down

Jobs Report: Headline Misses Lowest Estimate, Wage Growth Firm, Unemployment Rate Ticks Back Down

Donald Trump will get yet another opportunity to brag about the virility of the U.S. economy on Friday, assuming the July jobs report is some semblance of strong. The June report was another solid print, although earnings growth remains subdued and the unemployment rate ticked higher. Considering what Trump said ahead of last week’s GDP data (comments delivered in Illinois last Thursday seem to suggest the President is going to make a habit out of tipping these top-tier data points) one
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3 thoughts on “Jobs Report: Headline Misses Lowest Estimate, Wage Growth Firm, Unemployment Rate Ticks Back Down

  1. 157k is not solid, 207k is not ‘hot’. if one compares the number of people turning 20yoa and 70yoa as a proxy for those entering and leaving the workforce, add in immigration (only the young immigrate, so almost all of them are additions to the workforce) of 1.8m in 2016 US births 1948= 3.6 million 1998= 3.9 million

    3.9+ 1.8 – 3.6= 2.1 million new jobs req’d in 2018 to keep employment rate stable or 175k/month to keep employment/population stable. we would need 350-400k/month for months on end to push the participation rate back up, which is a key factor in getting gdp back up to the 4% range.

  2. “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.)”

    Trumpsters are tired of so much winning!

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