The U.S. economy added 164,000 jobs in July and unemployment held steady at 3.7 percent.
Economists surveyed by Econoday had forecast a gain of 151,000 for July and for unemployment to decline slightly to 3.6 percent.
While the economy has continued to grow this summer, it has shown signs of slowing from the rapid 3.1 percent rate of growth in the first three months of the year. Manufacturing has been a weak spot while consumer spending and the labor market have been strong. Economic growth slowed to a 2.1 percent rate in the April through June period.
Employment in health care rose by 30,000 over the month, almost entirely made up of gains in ambulatory health care services. Health care employment has increased by 405,000 over the year, with ambulatory health care services accounting for about two-thirds of the gain.
Mining employment declined by 5,000 in July and has been sluggish for several months.
Manufacturing employment grew by 16,000 for the month and has generally slowed this year compared with last. Job gains in the industry had averaged 22,000 per month in 2018. This year it has averaged just 8,000. more here
When all relevant facts are not included in the report, it is not a truthful representation of reality, like this one. So just who is getting these super duper jobs, and where? Didn’t GM just shut down making many unemployed, not employed? So how about a rebuttal:
More Fake Happy News About Jobs
BY GOVERNMENT SLAVES ON 08/02/2019
“So, what is really going on? The answer is that retired people, thanks to the Federal Reserve’s low to zero interest rate over the last decade, cannot live on their pensions and their savings. They have to take part-time jobs to make ends meet. Younger people, however, cannot form independent households on the basis of part-time jobs, and as they have no pension income to supplement the meager pay of a part-time job, have dropped out of the work force.
The reason the reported unemployment rate is low is that the millions who have dropped out of the labor force because they cannot find life-sustainable employment are not counted as unemployed. What do these people do? They live with parents or grandparents and they work cash jobs house sitting, walking dogs, cutting grass, and various handiman jobs.”