Posted on 07/05/2019 11:20:12 AM PDT by xzins
A record 157,005,000 people were employed in June, the most since February and the 19th record of Trump's presidency, the Bureau of Labor Statistics reported on Friday.
And the economy added a strong 224,000 jobs in June, well above the estimate of 160,000.
The unemployment rate, the lowest in 50 years, ticked up a tenth of a point to 3.7 percent.
In June, the nation’s civilian noninstitutionalized population, consisting of all people age 16 or older who were not in the military or an institution, reached 259,037,000. Of those, 162,981,000 participated in the labor force by either holding a job or actively seeking one.
The 162,981,000 who participated in the labor force equaled 62.9 percent of the 259,037,000 civilian noninstitutionalized population. That's up a tenth of a point from May's 62.8 percent participation rate. The payroll taxes paid by people who participate in the labor force help support those who do not participate, so the higher this number, the better.
The participation rate reached a record high of 67.3 percent in early 2000; the highest it's been under Trump is 63.2 percent.
The number of Americans not in the labor force, meaning they did not have a job and were not looking for one, dropped by 158,000 last month to 96,057,000 but this number remains near historic highs, as the Baby Boom generation accelerates into retirement.
Among the major worker groups, the unemployment rates for adult men (3.3 percent), adult women (3.3 percent), teenagers (12.7 percent), Whites (3.3 percent), Blacks (6.0 percent), Asians (2.1 percent), and Hispanics (4.3 percent) showed little or no change in June.
The change in total nonfarm payroll employment for April was revised down from +224,000 to +216,000, and the change for May was revised down from +75,000 to +72,000. After revisions, job gains have averaged 171,000 per month over the last 3 months.
And wages continue rising: In June, average hourly earnings for all employees on private nonfarm payrolls rose by 6 cents to $27.90, following a 9-cent gain in May. Over the past 12 months, average hourly earnings have increased by 3.1 percent.
Federal Reserve Chairman Jerome Powell, in a June 25 speech, said the economy has performed "reasonably well" so far this year, with continued growth and strong job creation keeping the unemployment rate near historic lows.
But Powell also mentioned "some ongoing cross-currents," including trade uncertainty and incoming data about the strength of the global economy.
He said the Fed "will closely monitor the implications of incoming information for the economic outlook and will act as appropriate to sustain the expansion..." That could mean lower interest rates -- or not, if the employment and job numbers remain strong.
President Trump hailed the strong employment report on his way out of town Friday morning:
We had great numbers this morning -- I think 224,000 jobs. Those were really unexpectedly good. And our country continues to do really well -- really, really well, so we're very happy about it.
I think we are going to be breaking records. If we had a fed that would lower interest rates we'd be like a rocket ship. But we're paying a lot of interest and it's unnecessary. But we don't have a Fed that knows what they're doing. So it is one of those little things. But if we had a Fed that would lower rates, you would have a rocket ship.
When Obama, President Obama was here, he paid close to zero interest. I'm paying real interest. And yet our economy is much better than it's ever been. From Election Day we're over 50 percent increase, and we've made trillions and trillions of dollars -- with a T, trillions. So we're doing very well. But last night was spectacular....
…But Media Face 12,000 Job Cuts, Most Since 2009 Economic Crash
I (completely) agree.
Completely.
America first. Stop building up China.
That’s an interesting question.
Due to attrition I’d say there would likely be a smaller number.
Still, that is a countering aspect that I had overlooked.
Thanks for the mention.
In my study I came up with the 195 million figure without that factor figured in.
Still, as related to my comments we need to add 300,000 more jobs per month, you’ve disrupted the claim we needed that many. That should have occurred to me. Oops.
We should never have done what we did with regard to China.
As I said 18 years ago, many of our youth will pay the price for this treachery with their blood.
At some point, we may also have combat on our own soil due to these traitors.
It’s a good thing there are other careers available...like coding.
There are a HUGE number of even Americans, who are cheering wildly about this number.
BRING BACK INDUSTRY TO AMERICA.
There is NOTHING what so ever to cheer about.
Everything, everything. In every store. Everywhere.
Everything.
Is made in China.
Everything.
Oh, happy days!!!
Fiscal Times in 2017 said around 10K Boomers were reaching 65 each day.
Obama to take credit in 3...2....1.....
They should be getting lots of cash, especially with the new tariffs.
Yep...
Thanks for the mention. We are still 40 million jobs under where we should be at.
The 10th year of economic expansion is a complete and total lie. The Obama economy was completely supported by free money to big banks from the Fed to pump the market along with borrowed government spending. The metrics sucked across the board and that is why he had such anemic growth. We were in a downward spiral and whenever they stopped pumping the free money the market would have tanked as well.
Trump has gotten the government out of the way and that is the primary reason for a booming economy that is doing far better than I ever thought we would see again. His vision for trade and manufacturing jobs have been a great help also as were the tax cuts.
This is truly something to behold. The man assembled an economic team that is nothing short of amazing and his Presidency is a perfect illustration of why a successful businessman makes a better President than a professional politician who has little understanding of the problems government creates for business.
We will likely have a correction at some point in the future and the negative naysayers will be out in force, but this will be a healthy and necessary thing. I can only imagine the media coverage, but as long as the fundamentals remain strong we will come out on the other side primed for continued growth.
I am very worried, that Trump has been convinced this subject does not matter.
As such he will not do something about this.
Some Democrat will. He will win, if not in 2020 then whenever...
And the GOP will never, ever win the presidency again.
Ever.
You'd have to sit down and work up a study yourself to know this. Nobody is reporting it.
I only did so in the interest of trying to touch on an issue in a way no one else has, to my knowledge.
Trump is doing a very good job. From what I hear, China is feeling it. U. S. manufacturers in China have been considering moving out of that nation. LINK
Also interesting are reports that even Chinese manufacturers are moving to the U. S. LINK
Just LOOK.
In every store.
EVERYWHERE.
Everywhere. Literally. Everywhere.
“Made in China”
I’m not denying that. I’ve long lamented that reality.
Even if you wanted to choose US made goods, you couldn’t do it.
I’m hopeful it will change.
I’ve been reading about trade and China, and I do think it’s going to take a big hit.
That doesn’t mean every job is coming back to the U. S. though.
Some will. Trump has set up a climate that will help.
You are not making adjustments for RETIRING workers from the workforce.
Also, wait until there is an actual slowdown and recession again; and then the border situation may get violent, as American workers getting replaced by Mexicans invaders, start to realize what the Democrats are doing to them.
Obama’s growing economy is also not true because Q3 & Q4 of 2015 were 1% and 0.4%. The economy was approaching recession of 2 quarters of 0% growth in 2015 and got above 2 just once the entire following year. Obama did not hand Trump a good economy. That is a fanciful misrepresentation
Couldn’t happen to a nicer...
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