The July jobs report was yet another goldilocks report, showing both cooling and continued resilience in the labor market. The economy added 187K jobs, and the unemployment rate edged down to 3.5%. Worrying increases in
to 3.5%. Worrying increases in last month’s report in the unemployment rate for Black workers and in the number of underemployed Americans working part-time for economic reasons partially reversed in July, increasingly the potential for a relatively pain-free return to normal.
The job-finding rate for unemployed workers rebounded to 31.2% after falling to 27.3% last month—good news for recently laid off workers and for new grads who are still looking for jobs.People are also reading… Going forward, we expect to see the job market continue its graceful slowdown to a sustainable cruising altitude of around 100K-150K new payrolls a month.
At the same time, the recent 18% year-to-date increase in the stock market, 1.7% positive real wage growth over the year, strong GDP growth, and rising consumer and CEO confidence will be tailwinds driving continued strength in what will likely remain a job seekers’ market for the foreseeable future.
Tags Subscribe to stay connected to Tucson. A subscription helps you access more of the local stories that keep you connected to the community.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US hiring slows in July: Employers add a still-solid 187,000 jobs; unemployment dips to 3.5%The U.S. economy and job market have repeatedly defied predictions of an impending recession.
Read more »
U.S. employers add a still-solid 187,000 jobs in JulyU.S. hiring slows in July: Employers add a still-solid 187,000 jobs; unemployment dips to 3.5%
Read more »
US employers add a still-solid 187,000 jobs in July; unemployment dips to 3.5%The job market has cooled over the summer. But it’s still strong enough to defy predictions that higher interest rates would tip the United States into recession.
Read more »
US employers add still-solid 187,000 jobs in July; unemployment dips to 3.5%U.S. employers added 187,000 last month, fewer than expected, as the higher interest rates continued to weigh on the economy
Read more »
QuantumScape stock drops 14% after solid-state battery maker plans stock offeringShares of QuantumScape Corp. tanked 14% in the after-hours session Wednesday after the battery maker pursuing a solid-state lithium battery said it plans to...
Read more »