Massive jobs surprise: US economy added 528,000 jobs in July

[Scott]

 

Minneapolis (CNN Business)The US economy has now regained all jobs lost during the pandemic, after a blowout July jobs report that showed a gain of 528,000 jobs, according to data released Friday by the Bureau of Labor Statistics.

The massive monthly gain was more than double the 250,000 that economists were expecting, according to Refinitiv.

The unemployment rate ticked down to 3.5% after holding at 3.6% for the past four months. The July jobless rate matched the half-century low last seen in February 2020.

https://www.cnn.com/2022/08/04/economy/monthly-jobs-report-preview-july/index.html

 

[pegman]

Fed tries to cool the economy down but has the opposite affect. 

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2 hours ago, pegman said:

Fed tries to cool the economy down but has the opposite affect. 

Why would you say it has the opposite effect? I think it happened despite their efforts, not because of them.

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As economists have pointed out, even before this latest report, there was lots of conflicting evidence about whether or not the economy had entered a recession.

https://www.washingtonpost.com/business/interactive/2022/are-we-in-recession-data/

[Fat is a type of crazy]

Looking a bit better now for Biden. Lots of jobs.  Legislation for climate change, cheaper drugs paid for by big business, seems set to go through.

Signs that women and men may take Roe v Wade seriously when voting such as in Kansas.

Republican silliness continues unabated. Look at CPAC in Dallas.

People seeing signs of potential justice relating to January 6.

Even defamation trials  for Alex Jones helps give people heart that common sense can prevail over some distorted right wing view of freedom of speech. 

Mid terms may not be so bad. 

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1 hour ago, Fat is a type of crazy said:

Looking a bit better now for Biden. Lots of jobs.  Legislation for climate change, cheaper drugs paid for by big business, seems set to go through.

Signs that women and men may take Roe v Wade seriously when voting such as in Kansas.

Republican silliness continues unabated. Look at CPAC in Dallas.

People seeing signs of potential justice relating to January 6.

Even defamation trials  for Alex Jones helps give people heart that common sense can prevail over some distorted right wing view of freedom of speech. 

Mid terms may not be so bad. 

Well, for what it's worth, fivethirtyeight.com has the Democrats retaining control in the Senate. But Republicans further ahead in taking back the House. It will be interesting to see what role abortion plays. Clearly, in Kansas, it brought out a lot of votes. 70% of newly registered voters were women. 

And success in legislation should have a halo effect.

[Scott]

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