Aug 3, 2018

U.S. adds fewer jobs than expected but preserves positive streak

The U.S. economy added 157,000 new jobs in July and the unemployment rate fell to 3.9%, but wage growth continued to lag behind inflation. Economists surveyed by Bloomberg forecast 193,000 new jobs and an unemployment rate of 3.9%.

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Data: Bureau of Labor Statistics; Chart: Axios Visuals

The bottom line: The U.S. economy is still in the longest-ever streak of job growth. The Labor Department today also increased prior month estimates for job growth. "The reality is the economy is on a very strong trajectory," Invesco Chief Global Market Strategist Kristina Hooper tells CNBC. Yet a years-long wages slog for working America continues.

Joe Brusuelas, chief economist at RMS: "While, the job gains are stout, we are growing increasingly concerned that average hourly earnings are simply not keeping up the pace of inflation. Given that, the consumer price index is up 2.9 percent over the past year it would be generous to describe inflation-adjusted gains as flat."

Ben Casselman of the New York Times:

University of Michigan Economist Justin Wolfers:

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Dion Rabouin

Unemployment fell to 50-year low in 2019 but wages stagnated

Data: U.S. Bureau of Labor Statistics; Chart: Axios Visuals

Friday's jobs report missed expectations, but still delivered solid numbers, showing the U.S. economy added well over 100,000 jobs and the unemployment rate remained near a 50-year low.

The big picture: BLS reported that the number of people who were employed part time but would rather be full-time employees declined by 507,000 over the year.

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Erica Pandey

An unsettling future for millions of American jobs

Illustration: Aïda Amer/Axios

The U.S. economy is besting expectations for job growth, and the unemployment rate is at its lowest in several decades — but the other side of the story is that millions of jobs out there just aren't good enough.

Why it matters: Almost half of all American workers are stuck in low-wage jobs that often don't pay enough to support their lives, lack benefits and sit squarely inside the automation bullseye.

Go deeperDec 19, 2019 - Economy & Business

Dion Rabouin

Growing divide between the two Americas

Illustration: Aïda Amer/Axios

Life in the U.S. is increasingly divided into two realities — one in which things have almost never been better and another in which it's hard to imagine them being worse.

Driving the news: Bankruptcies led more companies to announce job cuts last year than at any time in more than a decade, WSJ's Aisha Al-Muslim reports (subscription), citing data from outplacement firm Challenger, Gray and Christmas.

Go deeperJan 3, 2020