Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Job growth has really slowed over the last three months
This BLS report makes it somewhat likelier that the Fed may have to return to balance sheet expansion. Bernanke testifies to congress July 17, and it will be interesting to see what he has to say.
Once again, the ADP employment report was a poor predictor of the Bureau of Labor Statistics report. (It helped fake Goldman into a last minute upward revision of their estimate of the BLS report which had been spot on before they changed it.)
The economy has added 902,000 jobs over the first half of the year (952,000 private sector jobs). At this pace, the economy would add around 1.9 million private sector jobs in 2012; less than the 2.1 million added in 2011.
However job growth has really slowed over the last three months with only 225,000 payroll jobs added (a 900,000 annual pace), and only 274,000 private sector jobs (a 1.1 million annual pace). This is very sluggish employment growth.
The unemployment rate was unchanged at 8.2% in June The household survey showed a another increase in employment (128,000 jobs added), and since the participation rate was unchanged at 63.8%, that was just enough to keep with the increase in the labor force.
U-6, an alternate measure of labor underutilization that includes part time workers and marginally attached workers, increased slightly to 14.9%.
http://www.calculatedriskblog.com/2012/07/employment-another-weak-report-more.html
However job growth has really slowed over the last three months with only 225,000 payroll jobs added (a 900,000 annual pace), and only 274,000 private sector jobs (a 1.1 million annual pace). This is very sluggish employment growth.
The unemployment rate was unchanged at 8.2% in June The household survey showed a another increase in employment (128,000 jobs added), and since the participation rate was unchanged at 63.8%, that was just enough to keep with the increase in the labor force.
U-6, an alternate measure of labor underutilization that includes part time workers and marginally attached workers, increased slightly to 14.9%.
http://www.calculatedriskblog.com/2012/07/employment-another-weak-report-more.html
2 replies
= new reply since forum marked as read
= new reply since forum marked as read
