« Quotational Therapy: Part 33 -- Hayek On Social Security. | WILLisms.com | Trivia Tidbit Of The Day: Part 131 -- America's National Savings Rate. »

Trivia Tidbit Of The Day: Part 130 -- Jobs.

American Job Growth-

The American economy just continues to pump out one strong indicator after another. Yesterday, it was yet another strong employment number (.pdf):

Nonfarm employment grew by 207,000 in July, and the unemployment rate was unchanged at 5.0 percent; meanwhile, May and June numbers were revised upward by 42,000 total; meanwhile, average hourly earnings in July were up 0.4% over June.

The unemployment rate, at 5% (which many economists consider "full employment"), is down significantly over the past couple of years:

Logically, as the unemployment rate has fallen, total employment is up in the U.S.

This marks 26 straight months of job growth, with the U.S. economy adding roughly 4 million jobs over that period.

Sources:
Joint Economic Committee, U.S. Senate.
Bureau of Labor Statistics (.pdf), U.S. Department of Labor.

Previous Trivia Tidbit: The Gender Gap.

Posted by Will Franklin · 6 August 2005 09:10 AM

Comments

Posted by: Stutt Gart at August 7, 2005 09:44 AM