Chart of the Day: Net New Jobs in June

The American economy gained 213,000 jobs last month. We need 90,000 new jobs just to keep up with population growth, which means that net job growth clocked in at 123,000 jobs. The headline unemployment rate rose to 4.0 percent, largely because a whopping 600,000 people entered the labor force, of which 500,000 were unemployed. This is most likely due to high school and college kids graduating, so it’s nothing to worry about.

Wages of production and nonsupervisory workers were up at an annualized rate of 2.2 percent. Unfortunately, the latest CPI report shows inflation running at an annualized rate of 2.5 percent, which means workers got a pay cut last month. Overall, the employment situation seems to still be fine, but workers just can’t seem to string together any decent wage gains. The last six years have been a pretty good recovery for the rich, but pretty ho-hum for the rest of us.

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!

payment methods

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!

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate