July 8, 2022 | Daily JAM, Morning Briefing |
The U.S. economy added 372,000 jobs in June. That was way above the expectations among economists surveyed by Bloomberg for 268,000 new jobs. And it was only slightly fewer than the 384,000 jobs (revised) added in May. The unemployment rate stayed steady at 3.6% in June. That was in line with expectations and with the 3.6% rate in May. Average hourly earnings climbed 0.3% month-over-month. That was on expectations but a slight dip from the 0.4% month-over-month gain in May. Average hourly earnings were up 5.1% year over year in June. That’s slightly higher than the expected 5.0% rate and slightly below the 5.3% annual rate in May. The data is good news for those on Wall Street still hoping for a soft landing for the economy
July 2, 2021 | Daily JAM, Morning Briefing |
The U.S. economy added 850,000 jobs in June. That was above the 720,000 jobs projected by economists surveyed by Bloomberg. The June gains continued the recovery from the shockingly low job gains of 269,000 in April. In May the economy added 583,000 jobs. But the 850,000 pace was below the 1 million rate that Federal Reserve chair Jerome Powell has touted as the pace that would prompt the Fed to begin reducing the rate of its monthly bond purchases. Which would be a step toward an initial increase in interest rates. In other words job gains hefty enough to assure investors that the economy continues its recovery from the 2020 pandemic recession, and yet not so rapid as to push the Federal Reserve into a change in monetary policy.
June 28, 2020 | Daily JAM |
... really, really confusing and almost certainly misleading economic data. On Thursday, July 2, a day early because of the Fourth of July weekend, the Labor Department will report jobs numbers for June. Right now economists surveyed by Bloomberg are expecting a 3...
