Chart of the Day: Net New Jobs in June

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The American economy added 222,000 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 132,000 jobs. That’s a decent number, about equal to the average of the past three years. The headline unemployment rate ticked up slightly to 4.4 percent, but that’s probably because a lot of new grads entered the labor force in June and haven’t yet found jobs.

Hourly earnings of production and nonsupervisory employees went up at an annual rate of 2.3 percent. Inflation has been declining for the past couple of months, so this represents a small increase on an annualized basis. Nothing to write home about, but at least it’s positive. All in all, this was a pretty positive report with no real downsides.

HERE ARE THE FACTS:

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Our fall fundraising drive is off to a rough start, and we very much need to raise $250,000 in the next couple of weeks. If you value the journalism you get from Mother Jones, please help us do it with a donation today.

As we wrote over the summer, traffic has been down at Mother Jones and a lot of sites with many people thinking news is less important now that Donald Trump is no longer president. But if you're reading this, you're not one of those people, and we're hoping we can rally support from folks like you who really get why our reporting matters right now. And that's how it's always worked: For 45 years now, a relatively small group of readers (compared to everyone we reach) who pitch in from time to time has allowed Mother Jones to do the type of journalism the moment demands and keep it free for everyone else.

Please pitch in with a donation during our fall fundraising drive if you can. We can't afford to come up short, and there's still a long way to go by November 5.

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