Cos. Add Largest Amount of Jobs in 5 Months "A third world economy Mr Roberts? I think NOT"

AP via Yahoo.news ^ | 8/5/05 | By JEANNINE AVERSA, AP Economics Writer

[MNJohnnie]

WASHINGTON - Employers expanded their payrolls by 207,000 in July, the most in five months, while unemployment rate held steady at 5 percent, the government reported Friday.

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The latest snapshot from the Labor Department offered strong evidence that the job climate is improving considerably.

Boosts in hiring came in retailing, education and health services, financial activities and construction. But factories shed jobs for the second straight month.

The department said Hurricane Dennis, which ripped through Florida, Alabama and Mississippi last month, had "no discernible" effect on job growth in July.

Revised figures released Friday for May and June showed that payroll gains in those months proved stronger than previously thought. The number of jobs increased by 126,000 in May and 166,000 in June.

[MNJohnnie]

Excuse me Mr Roberts and the rest of the Doom and Gloom Freeper crowd, what was that hysterically funny nonsense you were posting last Friday about our the US Economy????? For those of you with short memories, here is a link for you.

http://www.freerepublic.com/focus/f-backroom/1451473/posts

[Last Dakotan]

How did manufacturing do?

[MNJohnnie]

PING!

[superiorslots]

Quote: Boosts in hiring came in retailing, education and health services, financial activities and construction. But factories shed jobs for the second straight month.



This is all good but what happens when the credit cards and home equity is maxxed out?? Consumerism has been driving the economy since 911. IN the past it was manufacturing jobs that pulled the country out of a recession.

[Syds Dad]

Pinging Willie Nille..

Willie.. You can never have enough pings to show you how wrong you are.

[Nathan Zachary]

" How did manufacturing do?

"Boosts in hiring came in retailing, education and health services, financial activities and construction. But factories shed jobs for the second straight month".

Thank unions. Was that strike worth it? Unreasonable wage and benifit demands = job loss.

[GeorgeW23225]

The doom and gloomers will still find something to bitch, piss, moan and complain about. What a shame........

[Question_Assumptions]

The Japanese have spent over a decade watching what happens when your domestic consumer spending can't support your economy. If people stop spending money in a service-based and retail-based economy, it ain't going to be pretty.

[Nathan Zachary]

"This is all good but what happens when the credit cards and home equity is maxxed out?? "

I guess you missed that report last month which shows that Americans have actually paid down their debt.

[MNJohnnie]

"How did manufacturing do?" Don't know, don't care. Rather then worrying about "which" job, the data below is what you should watch. Wages. Manufacturing is a declining sector. Like Farming, Technology lets us do more with fewer people. The only place you see expanding Manufacturing sectors is third world nations that have unrealized market potential.


With the labor market improving, the Fed is keeping close watch for signs of inflation, especially any from the compensation front.

Workers' average hourly earnings rose to $16.13 in July. That was 0.4 percent more than the average in June of $16.07. The increase was the most in a year. That's good for workers but was a bit worrisome to some economists who fret about inflation pressures picking up.

Economists pointed to the earnings increase as buttressing their belief that the Fed will continue to raise rates this year — and probably into 2006 — to prevent inflation from breaking out.

[ARCADIA]

Boosts in hiring came in retailing, education and health services, financial activities and construction. But factories shed jobs for the second straight month.

Sales clerks, bed pan collectors, collections, and ditch diggers...how does that differ from the third world?

[So Cal Rocket]

Sales clerks, bed pan collectors, collections, and ditch diggers...how does that differ from the third world?

Workers' average hourly earnings rose to $16.13 in July. That was 0.4 percent more than the average in June of $16.07.

Third world countries' jobs aren't paying $16/hr.

[dakine]

"Sales clerks, bed pan collectors, collections, and ditch diggers"


Which job is yours?

[Syds Dad]

What kind of fantasy world must you live in to just invent your own world?

Unreal.

[KevinDavis]

The world does need ditch diggers..

[superiorslots]

Quote: Thank unions. Was that strike worth it? Unreasonable wage and benifit demands = job loss.



Very few factories are union anymore. We lost 3 local factories over the last few years to china and non were union.

[snowsislander]

Here's the complete report from the BLS:

                         ______________________________


Technical information:
   Household data: (202) 691-6378    USDL 05-1459
          http://www.bls.gov/cps/

   Establishment data:   691-6555    Transmission of material in this release
          http://www.bls.gov/ces/    is embargoed until 8:30 A.M. (EDT),
Media contact:          691-5902     Friday, August 5, 2005.
                                        
                                        
                      THE EMPLOYMENT SITUATION:  JULY 2005
                                        
   Nonfarm employment grew by 207,000 in July, and the unemployment rate was
unchanged at 5.0 percent, the Bureau of Labor Statistics of the U.S. Depart-
ment of Labor reported today.  Over the month, payroll employment rose in many
service-providing industries.

Unemployment (Household Survey Data)
   
   Both the number of unemployed persons, 7.5 million, and the unemployment
rate, 5.0 percent, were unchanged in July.  A year earlier, the number of
unemployed was 8.2 million and the jobless rate was 5.5 percent.
   
   Over the month, the unemployment rates for most major worker groups--adult
men (4.3 percent), adult women (4.7 percent), teenagers (16.1 percent), whites
(4.3 percent), and Hispanics or Latinos (5.5 percent)--showed little or no
change.  The jobless rate for blacks declined from 10.3 to 9.5 percent over
the month.  The unemployment rate for Asians was 5.2 percent, not seasonally
adjusted.  (See tables A-1, A-2, and A-3.)

Total Employment and the Labor Force (Household Survey Data)
   
   Both total employment and the civilian labor force rose in July.  The em-
ployment-population ratio, at 62.8 percent, and the labor force participation
rate, at 66.1 percent, were essentially unchanged over the month.  The employ-
ment-population ratio has trended up in recent months.  (See table A-1.)


Persons Not in the Labor Force (Household Survey Data)
   
   In July, 1.5 million persons were marginally attached to the labor force,
about the same as a year earlier.  These individuals wanted and were available
to work and had looked for a job sometime in the prior 12 months.  They were
not counted as unemployed, however, because they did not actively search for
work in the 4 weeks preceding the survey.  There were 499,000 discouraged
workers in July, about the same as a year earlier.  Discouraged workers, a
subset of the marginally attached, were not currently looking for work 


    --------------------------------------------------------------------
   |                          Hurricane Dennis                          |
   |                                                                    |
   |   Hurricane Dennis struck near the beginning of the July reference |
   | period, affecting parts of Florida, Alabama, and Mississippi.  BLS |
   | examined survey data from the counties in the path of the storm to |
   | ensure that payroll survey responses were at normal levels.  Our   |
   | examination of the survey data suggests that there were no discern-|
   | able weather-related effects on national payroll employment as mea-|
   | sured by the establishment survey.  For the storm to have affected |
   | payroll employment, people would have had to have been off work for|
   | the entire pay period and not paid for the time missed.  (In the   | 
   | household survey, people who miss work for weather-related events  |
   | are counted as employed whether or not they are paid for the time  |
   | off.)                                                              |
     -------------------------------------------------------------------

                                  - 2 -

Table A.  Major indicators of labor market activity, seasonally adjusted
(Numbers in thousands)
______________________________________________________________________________
                         |    Quarterly    |                          |
                         |    averages     |       Monthly data       |
                         |_________________|__________________________| June-
        Category         |      2005       |           2005           | July
                         |_________________|__________________________|change
                         |   I    |   II   |  May   |  June  |  July  |
 ________________________|________|________|________|________|________|_______
     HOUSEHOLD DATA      |                 Labor force status
                         |____________________________________________________
Civilian labor force.... | 148,089| 149,003| 149,122| 149,123| 149,573|    450
  Employment............ | 140,296| 141,404| 141,475| 141,638| 142,076|    438
  Unemployment.......... |   7,794|   7,599|   7,647|   7,486|   7,497|     11
Not in labor force...... |  76,949|  76,671|  76,547|  76,787|  76,580|   -207
                         |________|________|________|________|________|_______
                         |                 Unemployment rates
                         |____________________________________________________
All workers..............|     5.3|     5.1|     5.1|     5.0|     5.0|    0.0
  Adult men..............|     4.7|     4.4|     4.4|     4.3|     4.3|     .0
  Adult women............|     4.6|     4.6|     4.6|     4.6|     4.7|     .1
  Teenagers..............|    16.9|    17.4|    17.9|    16.4|    16.1|    -.3
  White..................|     4.5|     4.4|     4.4|     4.3|     4.3|     .0
  Black or African       |        |        |        |        |        |
    American.............|    10.6|    10.3|    10.1|    10.3|     9.5|    -.8
  Hispanic or Latino     |        |        |        |        |        |
    ethnicity............|     6.1|     6.1|     6.0|     5.8|     5.5|    -.3
                         |________|________|________|________|________|_______
  ESTABLISHMENT DATA     |                     Employment
                         |____________________________________________________
Nonfarm employment.......| 132,814|p133,426| 133,413|p133,579|p133,786|   p207
  Goods-producing(1).....|  22,054| p22,135|  22,138| p22,136| p22,140|     p4
    Construction.........|   7,127|  p7,216|   7,213|  p7,228|  p7,235|     p7
    Manufacturing........|  14,314| p14,294|  14,301| p14,280| p14,276|    p-4
  Service-providing(1)...| 110,759|p111,292| 111,275|p111,443|p111,646|   p203
    Retail trade(2)......|  15,112| p15,180|  15,186| p15,195| p15,245|    p50
    Professional and     |        |        |        |        |        |
      business services..|  16,755| p16,867|  16,851| p16,908| p16,941|    p33
    Education and health |        |        |        |        |        |
      services...........|  17,191| p17,288|  17,289| p17,332| p17,353|    p21
    Leisure and          |        |        |        |        |        |
      hospitality........|  12,641| p12,740|  12,736| p12,760| p12,793|    p33
    Government...........|  21,725| p21,752|  21,754| p21,756| p21,782|    p26
                         |________|________|________|________|________|_______
                         |                  Hours of work(3)
                         |____________________________________________________
Total private............|    33.7|   p33.7|    33.7|   p33.7|   p33.7|   p0.0
  Manufacturing..........|    40.6|   p40.4|    40.4|   p40.4|   p40.4|    p.0
    Overtime.............|     4.5|    p4.4|     4.4|    p4.4|    p4.5|    p.1
                         |________|________|________|________|________|_______
                         |    Indexes of aggregate weekly hours (2002=100)(3)
                         |____________________________________________________
Total private............|   101.7|  p102.4|   102.3|  p102.5|  p102.7|   p0.2
                         |________|________|________|________|________|_______
                         |                    Earnings(3)
                         |____________________________________________________
Avg. hourly earnings,    |        |        |        |        |        |
  total private..........|  $15.92| p$16.03|  $16.03| p$16.07| p$16.13| p$0.06
Avg. weekly earnings,    |        |        |        |        |        |
  total private..........|  536.51| p540.86|  540.21| p541.56| p543.58|  p2.02
_________________________|________|________|________|________|________|_______

   1  Includes other industries, not shown separately.
   2  Quarterly averages and the over-the-month change are calculated using
unrounded data.
   3  Data relate to private production or nonsupervisory workers.
   p=preliminary.

                                  - 3 -

specifically because they believed no jobs were available for them.  The other
1.0 million persons marginally attached to the labor force had not searched for
work for reasons such as school attendance or family responsibilities.
(See table A-13.)

Industry Payroll Employment (Establishment Survey Data)

   Total nonfarm employment rose by 207,000 in July to 133.8 million, season-
ally adjusted.  This followed job gains of 126,000 in May and 166,000 in June
(as revised).  In July, there were employment gains in many service-providing
industries, including retail trade, professional and technical services, finan-
cial activities, food services, and health care.  (See table B-1.)
   
   Retail trade employment rose by 50,000 in July, following little change in
June.  This industry has gained 197,000 jobs over the year.  In July, retail
employment gains were widespread, including growth in clothing stores (13,000),
motor vehicle and parts dealers (10,000), and building material and garden
supply stores (7,000).
   
   Employment in professional and technical services increased by 23,000 in
July.  Over the year, this industry has added 211,000 jobs.  Management and
technical consulting services, as well as architectural and engineering
services, contributed to the July gain.
   
   Employment in financial activities rose by 21,000 over the month, as credit
intermediation and real estate showed continued strength.  Since July 2004,
employment in credit intermediation has grown by 93,000, while real estate has
added 54,000 jobs.
   
   Elsewhere in the service-providing sector, employment in food services and
drinking places rose by 30,000 over the month.  This industry has added 262,000
jobs over the year.  The health care industry continued to grow in July, adding
29,000 jobs.  Ambulatory health care services (which includes doctors' offices
and outpatient clinics), hospitals, and nursing and residential care facilities
all contributed to the employment gain.  Temporary help services employment was
flat in July and has shown little net change since April.

   In the goods-producing sector, construction employment continued to trend
up.  Thus far this year, job gains in construction have averaged 21,000 per
month, about in line with the average monthly increase for 2004.  In July, manu-
facturing employment was about unchanged.  The motor vehicle and parts industry
shed 11,000 jobs, reflecting larger-than-usual shutdowns for annual retooling.
Employment in wood products fell by 4,000.  These losses were partly offset
by small increases in several other manufacturing industries.  Mining employ-
ment remained about the same over the month.
   
                                  - 4 -

Weekly Hours (Establishment Survey Data)
   
   The average workweek for production or nonsupervisory workers on private
nonfarm payrolls was unchanged at 33.7 hours in July, seasonally adjusted.
The manufacturing workweek remained at 40.4 hours, while manufacturing over-
time increased by 0.1 hour to 4.5 hours.  (See table B-2.)
   
   The index of aggregate weekly hours of production or nonsupervisory workers
on private nonfarm payrolls increased by 0.2 percent in July to 102.7 (2002=100).
The manufacturing index was down by 0.1 percent over the month to 93.4.  (See
table B-5.)
   
Hourly and Weekly Earnings (Establishment Survey Data)
   
   Average hourly earnings of production or nonsupervisory workers on private
nonfarm payrolls rose by 6 cents in July to $16.13, seasonally adjusted.
Average weekly earnings increased by 0.4 percent over the month to $543.58.
Over the year, both average hourly and weekly earnings grew by 2.7 percent.
(See table B-3.)

                         ______________________________


   The Employment Situation for August 2005 is scheduled to be released on
Friday, September 2, at 8:30 A.M. (EDT).
   

[Eagles Talon IV]

There is no way I know of for this country to meaningfully increase jobs in the mfg sector as long as wages overseas are so low. No one will buy a TV made in America by workers making $15.00 per hr + benefits and pay close to $400.00 when they can buy the same TV made in China for $189.00. The name of the game in the world economy is adapt or die.

[Nathan Zachary]

He's prolly one of those who can't see the benifits when large retailers like Wal Mart move into a district. The mom and pops whine and complain, and don't look out the window to see all the other expansion that wal mart triggers.

A case in point, Wall Mart moved in, shortly after Costco- Home Depot expanded, Shoppers Drug Mart expanded, 2 new auto dealers opened, a new supermarket chain came to town, a Remi Home Center moved in, new roads were built to accomodate extra traffic, housing boomed to provide homes for all the extra workers to live in. Basically every single service sector and construction/ contractor company is benifiting. Plus a thousand or so new jobs were created.
The growth continues.

But mom and pop, who employed one person @ min. wage, never had anything you were looking for in their store complain, even though nickle and dime 'dash and grab' sales are up in their store too.

[Nathan Zachary]

"Very few factories are union anymore. We lost 3 local factories over the last few years to china and non were union."

Not around here, they are ALL unionized, A new casting company which opened up a couple years ago, employed 700 currently on strike, 4 months now. It looks like they closed down and moved on. I doubt they went to China though, prob. just the next state.