Must-Read: Den Baker: Job Growth Remains Strong in July
Must-Read: It is interesting that these days even Dean Baker is calling 215,000 net jobs a strong-growth month. I would still require more than 300,000 a month for “strong”. 200,000-300,000 a month is “moderate”. 100,000-200,000 a month is “adequate” (if the economy were already near full employment. And less than 100,000 a month is “weak”…
Job Growth Remains Strong in July: “The economy added 215,000 jobs in July, while the overall unemployment rate was unchanged at 5.3 percent…:
…The unemployment rate for African Americans fell from 9.5 percent to 9.1 percent, the lowest level since February of 2008. The employment-to-population ratio (EPOP) remained unchanged at 59.3 percent for the population as a whole and 55.8 percent for African Americans. While the unemployment rate has been falling sharply in the last four years, the EPOP has moved much less, having risen by just 1.1 percentage points from its low point in 2011…. The EPOP for prime-age men (ages 25-54) is still down by almost three percentage points from its pre-recession level. This is almost certainly an indication of ongoing weakness in the labor market.