From the Wall Street Journal:
There’s lots to like in July’s jobs report. Employers added 209,000 jobs last month, more than forecast. Wage growth rose 2.5% in July from a year earlier, not amazing but steady and right in line with expectations. Hours worked per week by private employees held steady at 34.5. The jobless rate fell by a tenth of percentage point to 4.3%, matching May as the lowest level of unemployment in 16 years. The U.S. trade gap narrowed sharply in June as a strengthening global economy pushes up demand for American exports overseas. The labor force participation rate, a measure of all the workers who could be working that either are working or looking for work, rose to 62.9% in July from 62.8% in June. Economists surveyed by The Wall Street Journal expected employers to add 180,000 jobs.
Here’s Stuart Varney wondering where all the happy talk is from the mainstream media about the good economic news.