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  • About
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    • ECON 2301-Princ of Macro
    • ECON 2302-Princ of Micro
    • ECON 3352-Energy Eco

U.S. Jobs Report Recap: LPP EP 14

7/6/2018

 
Good jobs report: Nonfarm payroll employment up 213,000 in June, unemployment rate at 4.0%, jobs created in professional and business services, manufacturing, & health care, while retail trade lost jobs. Average hourly earnings up 2.7% over last year. 

Job creation of 213K beat expectations of 195K. Unemployment rate up as 601K joined labor force—normal turnover, better job prospects, or grads from high school/college. Still many on sidelines as 25-54 yr old emp-pop ratio creeps up.

Payrolls for May were revised to 244,000 from 223,000 and April numbers revised to 175,000 from 159,000. That added a net of 37,000 new jobs in the prior two months.

​Manufacturing sectot.co/tBi7ehT844r added 36K jobs in June, up from 19K jobs added in sector in May. Most of June's hiring was in the durable goods sector. Over the past year, manufacturing sector has added 285,000 jobs. Production drives growth.

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    Vance Ginn, Ph.D.
    Chief Economist
    ​TPPF
    ​#LetPeopleProsper

    Dr. Ginn is a free-market, classical liberal economist with  a passion for providing abundant opportunities for people to prosper, which includes promoting policy rules and removing government barriers.

    He grew up in South Houston, Texas where he attended private school, public school and home school, was a hard rock drummer, and was a first generation college graduate from Texas Tech University.

    Dr. Ginn's a recovering academic and a public policy nerd. 

    Follow me on Twitter: @vanceginn. 

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