207,000 Jobs Created in July; Unemployment Rate Steady at 5.0%

CNBC | August 5, 2005

[RWR8189]

In July 207,000 jobs were created, above expectations, and the unemployment rate held steady at 5.0%

Upward revisions for May and June as well.

[tiki]

I agree, I think that 5% is pretty much full employment when you account for those who are abusing the system and those casual workers who work just enough to get by with their additional government benefits.

[brownsfan]

"From what I understand is that President Taft did not want to be President and he gained weight due to being President. After he lost the election he lost weight."

You're correct. My mistake. Taft was 5'11, and got down to about 250 before he died. He was about 320 while in office. I have him confused with another president.

[Trust but Verify]

Nope, it's 5% according to today's textbooks. I found the class quite interesting. Of course, being in my 40's, I already knew a lot about economics, (the youngsters in the class were at a huge disadvantage to me) but I learned a lot and am looking forward to the next econ classI take.

[Righty_McRight]

Good news! Of course, the democrats and/or whiners will say people are employed, but they are making less money OR some people have just given up finding work because it's the worst economy since Hoover and it's all Bush's fault.

Grandparents are having to pick fruit to make ends meet in this economy. :(

[infoguy]

You will find it on Page W62.

"Page W62." Funny! A good laugh for the morning!

[Proud_texan]

My memory is that it was pegged to that around then but it does move. It's an interesting area, one of the many tools conservative economist and the Chicagoan's have used to (justifiably) beat the crap out of Keynesianism.

If I recall correctly Paul Krugman's "Peddling Prosperity" (while otherwise dreary) had a negative opinion of NAIRU but managed to turn out a fairly good description.

Parenthetically at one time (and perhaps even still today) congress set an unemployment level into law. It was/is part of "Humphery-Hawkins", the very same law that compels Greenspan to go to Capital Hill and say nothing every so often.

Silly geeks.

[blackie]

Great enconomy ~ Bump!

[RazorGhost]

Glad I could make someone laugh.