July jobs report: Unemployment rate jumps to 4.3%, job gains total just 114,000 as labor slowdown deepens

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Earl

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July jobs report: Unemployment rate jumps to 4.3%, job gains total just 114,000 as labor slowdown deepens
Josh Schafer
Josh Schafer·Reporter
Updated Fri, Aug 2, 2024, 8:52 AM EDT3 min read
541

The US economy added fewer jobs than expected in July while the unemployment rate unexpectedly rose to its highest level in nearly three years, the latest sign of a broader summer slowdown in the US labor market.

Data from the Bureau of Labor Statistics released Friday showed the labor market added 114,000 nonfarm payroll jobs in July, fewer additions than the 175,000 expected by economists.

Meanwhile, the unemployment rose 4.3%, up from 4.1% June. The unemployment rate is now at its highest level since October 2021. July's job additions came in lower than the 179,000 jobs added in June.

Notably, the BLS said Hurricane Beryl had "no discernible effect" on the employment data for July.
finance.yahoo.com

July jobs report: Unemployment rate jumps to 4.3%, job gains total just 114,000 as labor slowdown deepens

The July jobs report comes at a critical moment as investors weigh whether the labor market is still normalizing to pre-pandemic levels or flashing signs of a more significant economic downturn ahead.
finance.yahoo.com finance.yahoo.com
 
At 4.3%, the unemployment rate is less than half what the unemployment rate in July 2020 under Trump.

Total nonfarm payroll employment rose by 1.8 million in July, and the unemployment rate fell to
10.2 percent, the U.S. Bureau of Labor Statistics reported today.


I guess the answer is in the numbers. The nation is better off now than it was 4 years ago under Trump.
 
Earl said:
The Stock Market lost nearly 500 points yesterday.

With this terrible jobs report...
Click to expand...
DJIA on August 1, 2020 - 28,430
DJIA today with the drop yesterday and this morning drop. (8:32AM EST) - 39,970
The DJIA is up 40% over those 4 years.

I guess the answer is in the numbers. The DJIA and 401Ks are better off now than they were 4 years ago under Trump.
 
Trump’s Final Numbers

Statistical indicators of President Trump's four years in office.

Posted on October 8, 2021 | Updated on July 26, 2024

Summary

The statistics for the entirety of Donald Trump’s time in office are nearly all compiled. As we did for his predecessor four years ago, we present a final look at the numbers.

The unemployment rate increased by 1.7 percentage points to 6.4%.
Paychecks grew faster than inflation. Average weekly earnings for all workers were up 8.4% after inflation.
After-tax corporate profits went up, and the stock market set new records. The S&P 500 index rose 67.8%.

Home prices rose 27.5%, and the homeownership rate increased 2.1 percentage points to 65.8%.
 
Meanwhile, the unemployment rose 4.3%, up from 4.1% June. The unemployment rate is now at its highest level since October 2021. July's job additions came in lower than the 179,000 jobs added in June.
 
Earl said:
July jobs report: Unemployment rate jumps to 4.3%, job gains total just 114,000 as labor slowdown deepens
Josh Schafer
Josh Schafer·Reporter
Updated Fri, Aug 2, 2024, 8:52 AM EDT3 min read
541

The US economy added fewer jobs than expected in July while the unemployment rate unexpectedly rose to its highest level in nearly three years, the latest sign of a broader summer slowdown in the US labor market.

Data from the Bureau of Labor Statistics released Friday showed the labor market added 114,000 nonfarm payroll jobs in July, fewer additions than the 175,000 expected by economists.

Meanwhile, the unemployment rose 4.3%, up from 4.1% June. The unemployment rate is now at its highest level since October 2021. July's job additions came in lower than the 179,000 jobs added in June.

Notably, the BLS said Hurricane Beryl had "no discernible effect" on the employment data for July.
finance.yahoo.com

July jobs report: Unemployment rate jumps to 4.3%, job gains total just 114,000 as labor slowdown deepens

The July jobs report comes at a critical moment as investors weigh whether the labor market is still normalizing to pre-pandemic levels or flashing signs of a more significant economic downturn ahead.
finance.yahoo.com finance.yahoo.com
Click to expand...

Earl said:
The Stock Market lost nearly 500 points yesterday.

With this terrible jobs report...
Click to expand...

Earl said:
Meanwhile, the unemployment rose 4.3%, up from 4.1% June. The unemployment rate is now at its highest level since October 2021. July's job additions came in lower than the 179,000 jobs added in June.
Click to expand...

Earl reacts to poor economic report ---> :cheer: "YAY!!! Hooray for negative reports about the American economy!!!"
 
Earl said:
Trump’s Final Numbers

Statistical indicators of President Trump's four years in office.

Posted on October 8, 2021 | Updated on July 26, 2024

Summary

The statistics for the entirety of Donald Trump’s time in office are nearly all compiled. As we did for his predecessor four years ago, we present a final look at the numbers.

The unemployment rate increased by 1.7 percentage points to 6.4%.
Paychecks grew faster than inflation. Average weekly earnings for all workers were up 8.4% after inflation.
After-tax corporate profits went up, and the stock market set new records. The S&P 500 index rose 67.8%.

Home prices rose 27.5%, and the homeownership rate increased 2.1 percentage points to 65.8%.
Click to expand...

Unemployment was 6.4% when Trump left office. Current unemployment is 4.3%. I wonder if you can figure out which one is better.
Paychecks up 8.4% but 36% more people were without a job. (We will ignore the U6 numbers.) Average family income was about flat when you include joblessness in their earnings.
After tax corporate profits went up because the corporate tax cut let them keep more money while increasing the Federal debt by $8 trillion. The largest 4 year debt increase in US history. Even Biden won't match that horrible record of US debt.
The S&P is currently up about 40% in 3.5 years under Biden. Not that far off Trump's pace and without the huge increase in deficits.
 
Poor Richard Saunders said:
Unemployment was 6.4% when Trump left office. Current unemployment is 4.3%. I wonder if you can figure out which one is better.
Paychecks up 8.4% but 36% more people were without a job. (We will ignore the U6 numbers.) Average family income was about flat when you include joblessness in their earnings.
After tax corporate profits went up because the corporate tax cut let them keep more money while increasing the Federal debt by $8 trillion. The largest 4 year debt increase in US history. Even Biden won't match that horrible record of US debt.
The S&P is currently up about 40% in 3.5 years under Biden. Not that far off Trump's pace and without the huge increase in deficits.
Click to expand...
I wonder if you can remember the pandemic, and the fact that the economy was shut down on the orders of the highest paid doctor in government history... What we remember is how well it was going right before 2020... 2020 was pandemic season, and even Trump gets a pass for doing as the "experts" told him to do.
 
ThatOwlWoman said:
I love the gleeful celebration of MAGATs when Americans might be suffering financially.
Click to expand...
I love that the reaction of leftists are "boy it sucks that you want the guy who you think will turn that around"... The leftists just try to distract from the news with a "gut reaction" to how people they don't like are supposedly reacting.
 
Trump’s Record Far Superior to Biden’s on Debt and Inflation
Jul 17, 2024 3 min read
COMMENTARY BY
Stephen Moore
@StephenMoore

Senior Visiting Fellow, Economics
Stephen Moore is a Senior Visiting Fellow in Economics at The Heritage Foundation.
U.S. President Joe Biden arrives to deliver remarks at the White House on July 14, 2024 in Washington, D.C. Kevin Dietsch / Getty Images
Key Takeaways

Over Biden’s near-four years in office, inflation is up roughly 20%. Under Trump, inflation was up 8%.

Even adjusting for Bidenflation, deficits have been at least 50% higher under Biden than Trump.

Only a Ph.D. in economics who teaches at an Ivy League school would believe that these Biden policies will bring inflation and interest rates DOWN.
 
Poor Richard Saunders said:
At 4.3%, the unemployment rate is less than half what the unemployment rate in July 2020 under Trump.

Total nonfarm payroll employment rose by 1.8 million in July, and the unemployment rate fell to
10.2 percent, the U.S. Bureau of Labor Statistics reported today.


I guess the answer is in the numbers. The nation is better off now than it was 4 years ago under Trump.
Click to expand...
Only because liberal states shut business' down.

How dishonest can you people get.

People aren't hiring because the jobs are being performed under the table by Biden's army of illegals.
 
Nomad said:
Earl reacts to poor economic report ---> :cheer: "YAY!!! Hooray for negative reports about the American economy!!!"
Click to expand...
Do you see "YAY!!! Hooray for negative reports about the American economy!!!" in any of my posts?

Reporting the abysmal economy is not cheering for their abysmal economy, it's reporting the facts.
 
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