News about jobs

The extraordinary U.S. economy continues to be extraordinary. 147K jobs added in June with upward revisions to April and May. Unemployment rate ticks down to 4.1%. Some contrary signs: participation rate down and hours down + weak wage growth. pic.x.com/sfukX9uV48

Pay growth has stabilized for job changers per ⁦@ADP⁩ data … year/year wage growth eased to +6.8% in June; largely stable over past year pic.x.com/o9hCE5mbIB

As of May, education and health services sector had most job openings, followed by professional and business services, and leisure and hospitality ⁦@BLS_gov⁩ ⁦@DataArbor⁩ pic.x.com/XTC19nuhGl

The index of aggregate weekly payrolls is a good monthly proxy for nominal income growth and correlates well with nominal GDP growth. It was up 4.5% on the year in June, down from 4.9% in May, as hours worked slowed and hourly earnings growth cooled. The 12-month rate has been pic.x.com/ycjXz1FuNs