July NFP = +157%. Unemployment = 3.9%

Today’s jobs report showed that the U.S. economy created 157,000 net new jobs last month. That’s a bit light, but nothing serious. The number tends to wiggle around some. The numbers for May and June were revised up by 59,000. The unemployment rate ticked down to 3.9%. That’s close to a 50-year low.

Average hourly earnings rose by seven cents in July to $27.05. In the last year, wages are up 2.7%. The labor force participation rate is at 62.9%. (That number had barely moved in five years.)

Here’s the last 20 years of nonfarm payrolls along with the Russell 3000.

Posted by on August 3rd, 2018 at 11:38 am


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