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Author: Dope1   😊 😞
Number: of 48466 
Subject: Re: Another Monster Jobs Report
Date: 06/07/2024 12:50 PM
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Yeah, let's look at the jobs report.
https://www.bls.gov/news.release/pdf/empsit.pdf?ut...

Both the unemployment rate, at 4.0 percent, and the number of unemployed people, at 6.6 million,
changed little in May. A year earlier, the jobless rate was 3.7 percent, and the number of unemployed
people was 6.1 million. (See table A-1.)

To determine the significance of the added 500k unemployed we would need to dive into population numbers.

When you read the actual report, you see the phrasing "little changed" a lot. Meaning, not much movement in either direction. Hardly a "monster" anything.

What about wages?
In May, average hourly earnings for all employees on private nonfarm payrolls increased by 14 cents,
or 0.4 percent, to $34.91. Over the past 12 months, average hourly earnings have increased by 4.1
percent. In May, average hourly earnings of private-sector production and nonsupervisory employees
increased by 14 cents, or 0.5 percent, to $29.99. (See tables B-3 and B-8.)

This would be good to compare to inflation rates.



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