Nonfarm payrolls rose 224,000 in June, well above market expectations of 165,000, according to the Labor Department. The unemployment rate edged higher to 3.7% but was still near 50-year lows. Wage growth was 3.1% year over year, one-tenth of a point below market expectations. Stocks opened lower on the news and government bond yields surged.
When the economy was improving steadily between 2011 and 2016 you would hear the usual right wingers saying yeah but it's a "gig economy," a lot of part time jobs, low paying service sector jobs, and so on.
These days when the Trump Cultists talk about how awesome the economy is, they never explain how any of this has changed, nor do they talk about the 30% or whatver the number is of relatively unemployable people that aren't counted in the unemployment stats.
This really is a continuation of what was already happening, with a little boost from the tax cuts, but not a big enough of a boost to justify $1.2 trillion deficits which is presumably where we will still be right before the next recession.
I think the 2020 Presidential election probably should be a game of hot potato.
The unemployment rate edged higher to 3.7% but was still near 50-year lows.
Wage growth was 3.1% year over year, one-tenth of a point below market expectations.
Stocks opened lower on the news and government bond yields surged.
https://www.cnbc.com/2019/07/05/jobs-report-june-2019.html