NEW YORK—July jobs printed at a blowout 528,000 jobs, more than double the consensus estimate of 250,000 jobs. The unemployment rate was 3.5 percent, down 0.1 percentage point from last month, and also down from last July’s 5.4 percent. The labor force participation rate was 62.1 percent, up from the 61.7 percent that printed in July…
April Jobs Headline Is Good, But Deeper Dive Disconcerting
May 6, 2022
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April jobs printed at 428,000 new jobs, above the consensus estimate of 380,000. The unemployment rate was 3.6 percent. The Labor Participation Rate was just 62.2 percent, down 20 basis points (bps, or 1/100th of a percentage point) from last month. February and March jobs were revised downward by 39,000 net jobs. The U6, which…
Texas Oil and Gas Jobs See Biggest Leap in 10 Years, Historic Growth Due to ‘Strong Demand’
March 29, 2022
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Jobs related to oil and gas in Texas have seen the biggest monthly increase in a decade, and the second-highest increase in at least 32 years, the Texas Oil and Gas Association (TXOGA) said citing data from the Texas Workforce Commission. Upstream oil and gas jobs in the state grew by 5,100 in February 2022…
European Unemployment Shows Big Government Means Poor Jobs
Commentary The unemployment rate in the euro area fell to 7 percent in December and 6.4 percent (pdf) in the European Union, compared with the United States at 3.9 percent. We mustn’t forget that these unemployment rates don’t include furloughed jobs covered by unemployment retention schemes, which account for another 5 million workers waiting to…
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