Already have an account? log in
This article is FREE for you
Create a free account and join institutional investors, analysts and strategists from the world's largest banks
By submitting your email address you agree to receive communication by email
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 Frid
OR, subscribe now for unlimited access
By submitting your email address you agree to receive communication by email
By submitting your email address you agree to receive communication by email
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.
2.7% increase in wages with 2.9% CPI. Huzzah.
“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!