Chart of the Day: Net New Jobs in July

The American economy gained 164,000 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 74,000 jobs. This is a modest number, but it happened for all the right reasons. BLS recorded 283,000 newly employed plus another 183,000 who have left the sidelines and re-entered the labor force. Both the labor force participation rate and the employment-population ratio ticked upward slightly.

On the wage side of things, the news was tepid. Hourly wages for blue-collar workers were up at an annual rate of about 0.5 percent after adjusting for inflation. That’s nothing to write home about. What’s worse, the number of hours worked went down, so average weekly wages declined at an annual rate of about 1.6 percent. This continues a trend from last year of workers getting fewer hours, which is now down to its post-recession level.

The upshot of all this is that weekly blue-collar wages have been slowly declining ever since the beginning of the 2019. July was just the latest drop.

WE'RE TAKING A SHORT BREAK…

from the big banner at the top of our pages asking for the donations that make Mother Jones' nonprofit journalism possible. But we still have upwards of $300,000 to raise by June 30, whether we get there is going to come down to the wire, and we can't afford to come up short.

If you value the reporting you get from Mother Jones and you can right now, please join your fellow readers who pitch in from time to time to keep our democracy-advancing, justice-seeking journalism charging hard (and to help us avoid a real budget crunch as June 30 approaches and our fiscal year ends).

payment methods

WE'RE TAKING A SHORT BREAK…

from the big banner at the top of our pages asking for the donations that make Mother Jones' nonprofit journalism possible. But we still have upwards of $300,000 to raise by June 30, whether we get there is going to come down to the wire, and we can't afford to come up short.

If you value the reporting you get from Mother Jones and you can right now, please join your fellow readers who pitch in from time to time to keep our democracy-advancing, justice-seeking journalism charging hard (and to help us avoid a real budget crunch as June 30 approaches and our fiscal year ends).

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