US Adds 209000 Jobs in July

US Adds 209000 Jobs in July

"Working-age adults are now more likely to be employed than at any time since the recession". Just after the Great Recession in 2009, unemployment peaked at 10%.

There was a gain of 35,000 in full-time jobs, offset by a decline of 24,000 part-time jobs.

Unemployment in Windsor jumped to 6.2 per cent last month, up from 5.2 in June, mainly due to more people looking for work.

The decline in the jobless rate was also due in part to a lower participation rate, which fell to 65.7 per cent, from 65.9 per cent, as people left the labour force. And given the low unemployment rate, wages should be growing faster than they are.

And many high school graduates who don't attend college are unemployed - particularly if they live in an area with a high poverty rate or if their parents are unemployed. The U-3 figures have plateaued more or less around 4.3% over the last few months, while the U-6 unemployment rate has been at 8.6% three of the last four months.

The labor force was 62.9 percent of the population.

One issue may be that workers aren't changing jobs.

"What we're seeing is that our clients - they're just unwilling to pay more, because they don't believe they can pass it through in what they bill their clients", Robert Half CEO Harold Messmer said on a July 26 conference call, according to a Seeking Alpha transcript. "We're seeing more jobs that don't require a college degree get posted". It has mostly stabilized in the past year, suggesting some Americans who'd given up searching are being drawn back to the work force. I'm betting that the economy will have created 188,000 jobs in July, the unemployment rate will be unchanged, and average hourly earnings will rise by 5 cents, which translates to an annual rate of 2.5 percent.

While mining jobs only increased by 1,000 jobs in July, the averaging 7,000 new mining jobs per month since President Donald Trump's election in November of 2016.

The number of people overall in the workforce increased by 400. "More than a quarter of all owners reported raising wages in July, and the pressure was especially high in the construction industry", he said.

In July, average hourly earnings rose 0.3 percent. Average wages rose 0.3 percent in July -- the biggest increase in five months.