Aug
08

Excellent Employment

excellentWith 255,000 net new jobs created in July and upward revisions to prior months, Friday’s job report was stellar.  While the unemployment rate held steady, it’s because a huge number of persons entered the labor force. Moreover, the work week rose from 34.4 hours to 34.5; equivalent to another 375,000 jobs. Combined with average hourly earnings rising 0.3%, monthly take-home pay rose 0.8%! Nonetheless, a September rate hike remains unlikely.

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