Chart of the Day: Net New Jobs in June

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The American economy added 287,000 new jobs last month, 90,000 of which were needed to keep up with population growth. This means that net job growth clocked in at a very robust 197,000 jobs. This makes up for May’s miserable jobs report, and suggests that economic growth is still chugging along at decent rate. The labor force expanded considerably in June and the number of unemployed also went up, producing a rise in the unemployment rate to 4.9 percent. This may be an artifact of graduating college students who haven’t yet found work.

Hourly earnings of production and nonsupervisory employees were up at an annual rate of about 2.3 percent compared to last month, a bit higher than the inflation rate. That’s not great, but at least it’s progress.

Overall, this jobs report was a relief. Employment growth over the past six months hasn’t been great, but at least it hasn’t been driven into a ditch.

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Fact:

In-depth journalism that investigates the powerful takes real money and is so damn important right now.But it doesn’t take a Mother Jones investigation to know that billionaires and corporations will never fund the type of reporting (like they do politicians) we do that exists to help bring about change. Instead, our mission-driven journalism is made possible by people power, and has been for 46 years now since our founding as a non-profit.

In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

$400,000 to go!

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