June US Jobs Report

Some good news;

“On Friday morning, the Labor Department reported that the U.S. economy added 287,000 jobs, while the unemployment rate rose slightly, to 4.9 percent. Economists surveyed by The Wall Street Journal were expecting 165,000 jobs added.” – The Atlantic

Those extra 122,000 jobs basically balance the miss of 120,000 jobs in May. While great explanations are being debated, on average, job growth remains about the same. Data can be noisy, maybe next month will reverse or accelerate the trend, but it’s possible that the jobs just shifted a few weeks.

The other good news:

“Average hourly earnings rose by two cents, to $25.61, following an eight-cent increase in April and a five-cent increase in May. In the past year, average hourly earnings have risen by 2.6 percent.” – The Atlantic

Wages rising 2.6% is above target inflation, but a breakdown by income class is necessary to discern whether it is decreasing, maintaining, or increasing income inequality. Since the Great Recession, income inequality has risen as higher incomes have received higher raises, while many full-time lower income jobs have replaced with part-time jobs at even lower wages or at least lower benefits.

In general though, compared to much of the world, the US employment and economic numbers look relatively good.

(Click on the graph for the link.)

“June’s Super Jobs Report” – The Atlantic