Unemployment rate drops to 3.8%

[Tahuyaman]

I don't recall a time when the unemployment rate was this low. This is also at a time when people who were considered out of the labor force are reentering.

The unemployment rate for African American men is at 5.7%. I believe that's the lowest ever.

I just heard that many companies are trying to attract employees by saying that they will conduct no drug testing and will hire convicted felons. People who could not get a job for various reasons are now entering the work force.


Wage groth is is also on the rise.

Is this what "full unemployment" looks like?

http://money.cnn.com/2018/06/01/news...ort/index.html

Wages grew 2.7% in May compared with a year earlier. Wage growth has picked up in recent months, but economists have been puzzled for a long time about why it isn't climbing faster. In a job market this tight, employers are typically forced to pay much more to attract workers.

[DGUtley]

I wonder what the real rate is?

[Tahuyaman]

I wonder what the real rate is?

I'm sure the U-6 numbers or whatever measure you use has declined right along with the number published.

[Common]

I wonder what the real rate is?

who knows

[Lummy]

Obama did it!

[Tahuyaman]

Obama did it!

Good job. You're catching on......

[midcan5]

The Obama employment trend continues but one must wonder how long given Trump's tax for the rich. Pay has not increased yet, even though a few companies gave small bonuses to play along, and many still suffer waiting for that great great healthcare and other Trump promises. Inflation and increased costs have deleted the small tax cut for the middle class already. Gas alone has taken its toll. The truth is somewhere hidden in the BS and the poor and needy are growing amidst wealth for the wealthy. And so it goes....

'US inequality reaching a dangerous level due to Trump's 'cruel' measures'

https://www.theguardian.com/us-news/...el-measures-un

https://www.theguardian.com/society/...ial-rapporteur

'Donald Trump and the disturbing power of dehumanizing language'

https://www.vox.com/science-and-heal...ion-psychology

https://www.politico.com/magazine/st...t-brain-214658

[waltky]

6.3%: African-American Unemployment Rate Second-Lowest Ever...

6.3%: African-American Unemployment Rate Second-Lowest Ever
September 7, 2018 | (Correction: The original headline said that the African-American unemployment rate in August was the lowest ever; in fact, 6.3% is the second lowest rate on record for African-Americans.)

(CNSNews.com) - The midterm election is about "safety and jobs," President Trump told a campaign rally in Montana Thursday night. He said the economy is "booming like never before," and on Friday, the unemployment report brought the president more good news: the unemployment rate for African Americans, 6.3 percent, is the second lowest on record (it was 5.9 percent in May); and job-growth remains strong. For Hispanics, the unemployment rate increased two-tenths of a point from last month's record low of 4.5 percent. And the overall unemployment rate remained at a low 3.9 percent. The number of jobs added -- 201,000 -- exceeded analysts' expectations. (After revisions, job gains have averaged 185,000 for each of the last three months.)


After three straight record-setting months, the number of employed Americans dropped by 423,000 in August, to 155,542,000 from last month's all-time high of 155,965,000. This number has set 11 records since Donald Trump took office. In August, the nation’s civilian noninstitutionalized population, consisting of all people age 16 or older who were not in the military or an institution, reached 258,066,000. Of those, 161,776,000 participated in the labor force by either holding a job or actively seeking one. The 161,776,000 who participated in the labor force equaled 62.7 percent of the 258,066,000 civilian noninstitutionalized population, slightly below last month's 62.9 percent participation rate.


The participation rate remains stubbornly low as a growing number of people leave the labor force, led by baby-boom retirees. BLS noted that the percentage of Americans not in the labor force -- meaning they neither have a job nor are looking for one -- increased to a record 96,290,000 in August. Among the major worker groups, the unemployment rates for adult men (3.5 percent), adult women (3.6 percent), teenagers (12.8 percent), Whites (3.4 percent), and Asians (3.0 percent) showed little or no change in August. And there's positive news on wage growth: In August, average hourly earnings for all employees on private nonfarm payrolls rose by 10 cents to $27.16. Over the year, average hourly earnings have increased by 77 cents, or 2.9 percent.


https://www.cnsnews.com/news/article...loyment-august

See also:


Manufacturing Jobs Down 3,000 in August—After 12 Straight Months of Gains
September 7, 2018 | Manufacturing jobs in the United States decreased by 3,000 in August—after twelve straight months of manufacturing job increases, according to data released today by the Bureau of Labor Statistics.

“Manufacturing employment changed little in August (-3,000),” BLS said in its monthly employment report. “Over the year, employment in the industry was up by 254,000, with more than three-fourths of the gain in the durable goods component.” In July, according to this report, there were 12,720,000 people employed in manufacturing in the United States. In August, there were 12,717,000.

According to the report, manufacturing jobs have increased by 366,000 since President Donald Trump took office, climbing from 12,351,000 in December 2016 (the month before he was inaugurated) to the August number of 12,717,000.


Manufacturing employment peaked in this country in June 1979, when 19,553,000 were employed in manufacturing. It hit its lowest point since 1941—the year the United States entered World War II—in February and March of 2010, when manufacturing employment was 11,453,000. The last time manufacturing employment had been below that level in the United States was March 1941, when it was 11,409,000.


https://www.cnsnews.com/news/article...t-months-gains

[Captdon]

I don't recall a time when the unemployment rate was this low. This is also at a time when people who were considered out of the labor force are reentering.

The unemployment rate for African American men is at 5.7%. I believe that's the lowest ever.

I just heard that many companies are trying to attract employees by saying that they will conduct no drug testing and will hire convicted felons. People who could not get a job for various reasons are now entering the work force.


Wage groth is is also on the rise.

Is this what "full unemployment" looks like?

http://money.cnn.com/2018/06/01/news...ort/index.html

Wages grew 2.7% in May compared with a year earlier. Wage growth has picked up in recent months, but economists have been puzzled for a long time about why it isn't climbing faster. In a job market this tight, employers are typically forced to pay much more to attract workers.

PetSmart is offering 1000 dollar hiring bonus' for groomers.

[Tahuyaman]

I really do thinks it funny to watch Obama and his surrogates take credit for today's economic conditions.