AP Photo/Seth Wenig In an unexpected twist given all the other labor news we’ve seen over the course of this week , the Bureau of Labor Statistics monthly report shows that 528,000 non-farm jobs were created in July, more than doubling economist expectations. Payroll employment rises by 528,000 in July; unemployment rate edges down to 3.5% https://t.co/1Y9cSWJUIB #JobsReport #BLSdata — BLS-Labor Statistics (@BLS_gov) August 5, 2022 The unemployment rate also ticked down to 3.5 percent, down from last month’s 3.6 percent. Wages are also now up 5.2 percent from a year ago.
Despite the rate of inflation still being up more than 9 percent from a year ago and far outpacing wages, and despite other signs of economic weakness, it’s clear that the job market is going strong . More broadly, though, the report showed that the labor market remains strong despite other signs of economic weakness. “There’s no way to take the other side of this. There’s not a lot of, ‘Yeah, but,’ other than it’s not positive from a market or Fed perspective,” said Liz Ann Sonders, chief investment strategist at Charles Schwab. “For the economy, this is good news.” Markets initially reacted negatively to the report, with […]
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I hate being “that guy” who asks people to donate because I think our conservative news network is so crucial, but here I am…
When I left my cushy corporate job in 2017, I did so knowing that my family would have to make sacrifices. But I couldn’t continue to watch the nation slip into oblivion and was inspired by President Trump’s willingness to fight the good fight even at his own personal expense. What I didn’t realize then is that conservative media would be so heavily attacked, canceled, and defunded that the sacrifices would be extreme.
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