July’s Ho-Hum Jobs Report August 2, 2013Posted by geoff in News.
Another mediocre jobs report this morning, with 161K jobs added. This time only 5/8 of the jobs were part-time, and only 37K people left the workforce. Nearly all the jobs were added in the service industry – on the goods-producing side we only added 4000 jobs (you can expect a post on Obama’s ill-fated promise to add a million manufacturing jobs later today).
Let’s look at the full-time jobs divided by the civilian non-institutional population:
Basically no movement from last month. The press is sure to excited about the drop in unemployment from 7.6% to 7.4%, but by this metric nothing’s really changed.