.comment-link {margin-left:.6em;}

Economy

Economic Data (USA)

Friday, August 04, 2017

Employment Situation Report for July 2017

The Employment Situation Report for July 2017 was released by The Department of Labor's Bureau of Labor Statistics this morning:

Nonfarm Payrolls (month-to-month change)
Predicted: +178,000
Actual: +209,000


U-3 Unemployment Rate (Headline)
Predicted: 4.3%
Actual: 4.3%

U-6 Unemployment Rate*
Actual: 8.6%
Previous Reading: 8.6%

Average Hourly Earnings (month-to-month change)
Predicted: +0.3%
Actual: +0.3426%

Civilian Labor Force Participation Rate: 62.9%
Previous Reading (revised): 62.8%

Average Workweek
Predicted: 34.5 hours
Actual: 34.5 hours

Economist, academics, central bankers and investors pay very close attention to the monthly Employment Situation report as it offers penetrating insight as to the current and near-future state of the overall U.S. economy. If a) Americans are earning more money and b) the economy is creating new jobs, this typically translates to more money being pumped into the economy (and vice versa.)

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

From today's report:

"...In July, average hourly earnings for all employees on private nonfarm payrolls rose by 9 cents to $26.36 [+0.3426%]. Over the year, average hourly earnings have risen by 65 cents, or 2.5%. In July, average hourly earnings of private-sector production and nonsupervisory employees increased by 6 cents to $22.10 [+0.2722%].

The change in total nonfarm payroll employment for May was revised down from +152,000 to +145,000, and the change for June was revised up from +222,000 to +231,000. With these revisions, employment gains in May and June combined were 2,000 more than previously reported. Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors. Over the past 3 months, job gains have averaged
195,000 per month..." [Establishment Survey Data]
======

 * =  The U-6 Unemployment Rate is defined as:

"Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force."

Labels: , , , , , ,


--> www.FedPrimeRate.com Privacy Policy <--

>  SITEMAP  <

bing

bing

www.FedPrimeRate.com
Entire Website © 2024 FedPrimeRate.comSM


This website is neither affiliated nor associated with The United States Federal Reserve
in any way. Information in this website is provided for educational purposes only. The owners
of this website make no warranties with respect to any and all content contained within this
website. Consult a financial professional before making important decisions related to any
investment or loan product, including, but not limited to, business loans, personal loans,
education loans, first or second mortgages, credit cards, car loans or any type of insurance.