Friday, August 5, 2011

July Employment +117,000 with Private Sector +154,000; Unemployment Rate 9.1%

I was thinking we'd have a pretty solid number, if for nothing else the previous 2 months were so horrid and had deteriorated so quickly that we'd have some reversion to a mean.  However, I would not be placing bets on it.  Indeed, the number came in quite solid at 117,000 job gains with a better number in the private sector.  Will have to see how many of these gains came from 'birth death' model but with such a bad oversold condition and sour mood on Wall St anything in the 100K range would be good enough I think.

The unemployment rate ticked down 0.1% to 9.1%.  Digging for more info and will update shortly.

Average hourly earnings up 0.4% versus last month's 0.0% (big improvement)

Average hourly workweek flat at 34.3 hours.

Labor force dropped to 63.9%, which explains the drop in the headline unemployment rate.  Awful.

Disclaimer: The opinions listed on this blog are for educational purpose only. You should do your own research before making any decisions.
This blog, its affiliates, partners or authors are not responsible or liable for any misstatements and/or losses you might sustain from the content provided.

Copyright @2012