18.06.04 Jobs Report

June 4, 2018
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5 Things to Know From May’s Jobs Report

Economy keeps humming, putting more people to work, at higher wages – and in sectors that surprised.


Unemployment Rate Hasn’t Been This Low in Nearly 50 Years

  • More people employed, fewer unemployed = unemployment rate drop for good reasons.
  • Women, high-school dropouts, blacks & Latinos benefit.
  • American economy has added jobs for more than 7 years (92 straight months).

Back from the Sidelines?

  • Mining & manufacturing, two industries once dismissed as “has beens,” saw job gains *again* last month, following a trend over the last year.
  • This challenges a belief the “new normal” in the U.S. economy didn’t include these sectors.
  • That said, retail, healthcare and construction remain the top job-gaining industries.

Americans Making More $

  • Ave.A hourly earnings rose by 8 cents. Many look at this as a sign of the strength of the job market.
  • Important to watch:A Wage growth ofA 2.7% over the last year is a nice improvement – a bigger bump may stoke fears of inflation (an economy overheating).
“We remain in a virtuous circle: the labor market is strong, which supports consumption, which drives production, which keeps the labor market strong. Until something disrupts that cycle, we should expect the good economic times to continue.”

Eric Winograd, AB U.S. economist

Wow. Seems Pretty good. Any Negatives?

“…some employers are having a hard time filling roles and some job seekers are having a hard time finding good jobs near them.”

Cathy Barrera, ZipRecruiter chief economist
  • Number of people who want work remain discouraged & aren’t searching for jobs.

The jobs numbers are confidential, but Pres. Trump tweeted an hour before released: "Looking forward to seeing the employment numbers at 8:30 this morning." Click for why this break in protocol matters.

And an interesting historical fact…
Trump is not the first president to have crossed lines. President Dwight Eisenhower leaked the jobs report ahead of time, right before Election Day in 1954, 1956 and 1958.

by Jenna Lee,