The May jobs report came in much better than expected Friday, with the unemployment rate actually dipping from 14.7% to 13.3%, with 2.5 million jobs gained. Analysts had expected 8 million jobs lost and an unemployment rate on the order of 20%. Which says a lot about the “science” of economics. Trump immediately scheduled a Rose Garden press conference to tout the gains.
The unemployment rate declined to 7 percent last month, it’s lowest level in five years, providing a boost to President Obama as he seeks to emerge from the Obamacare rollout fiasco. Some previous declines in the unemployment rate have been largely due to people giving up a leaving the workforce, but November seems to be different, as payrolls rose by 203,000. Average hourly earnings and
The U.S. economy continued its standard, mediocre performance last month, generating only 148,000 jobs in September, below forecasters’ expectations of 180,000. The economy needs to produce about 150,000 jobs a month just to keep pace with population growth. The unemployment rate, which is measured by a separate, less reliable survey, declined a tenth of a point to 7.2 percent. The report was supposed to be
The Department of Labor today reported that the U.S. economy created 169,000 jobs last month and the unemployment rate fell from 7.4 percent to 7.3 percent. But the news is really not so great. Part of the reason for the slight drop in unemployment was that the civilian labor force participation rate declined a bit. At 63.2 percent, it’s the lowest rate in 35 years, according
The economy generated 146,000 jobs last month and the unemployment rate dropped to 7.7 percent, and I had to suppress a yawn. I hate to intrude on the celebrating, but the growth is about consistent with the last few months of increases that do little more than keep pace with increases in population, which means it will take us about one or two centuries to
The Labor Department today reported that the economy created 171,000 jobs in October and that the unemployment rate rose a tenth of a point to 7.9 percent. The slight increase in the unemployment rate is not helpful to President Obama, but not nearly as harmful as if the rate had risen to 8 percent, a symbolic number that would have signalled more strongly that Obama’s
I don’t think they’ll do this. It just would draw too much outrage and suspicion. But the Wall Street Journal is reporting that there is a chance Friday’s jobs report, which I think is likely to show either no change or a slight increase in the unemployment rate, will be delayed because the government is closed today due to the storm. The government is likely