The Patriot Post® · 209,000 July Jobs, Unemployment Increases

More mixed news on the jobs front: “The U.S. economy added 209,000 jobs in July, marking the sixth straight month of 200,000-plus gains for the first time since 1997,” reports Market Watch. However, “The unemployment rate edged up to 6.2% from 6.1% … as more people entered the labor force in search of work.” Furthermore, “The labor-force participation rate climbed a tick to 62.9%, the first increase in four months,” and May and June numbers were revised slightly upward. On the other hand, wages remained stagnant, as did the number of people out of work for at least six months or stuck in part-time jobs. The U-6 unemployment rate, which is a fuller measure, rose from 12.1% to 12.2%. While the overall picture isn’t bleak, this still remains a needlessly weak recovery. More…