Friday Is Jobs Day In U S A And White House Claims Encouraging Trends in the Labor Market Stating That This has happened First Time Since 1997
It’s the first Friday of the month, It’s Jobs Day, and U S saw another month of encouraging trends in the labor market.
In July, the private sector gained 198,000 jobs, and total job growth has exceeded 200,000 jobs for six straight months — the first time that has happened since 1997 It Is The 53rd straight month of job growth, which is the longest streak on record.
Total job growth exceeded 200,000 for the sixth straight month in July, the first time that has happened since 1997.
This encouraging trend in the labor market is consistent with other recent economic indicators, including the strong second-quarter GDP growth reported on Wednesday. To ensure this momentum can be sustained, the President Obama is pressing Congress to act to create jobs and expand opportunity, while simultaneously using his own executive authority to encourage investment in the United States, boost the income of working families, and ensure safe and fair treatment of American workers.
FIVE KEY POINTS IN TODAY’S REPORT FROM THE BUREAU OF LABOR STATISTICS
[1] The private sector has added 9.9 million jobs over 53 straight months of job growth, the longest streak on record
[2]The Labor force participation rate edged up to 62.9 percent in July, and has been relatively stable, on balance, since last October—during which time the unemployment rate has fallen by a full percentage point.
[3]Looking at a range of indicators of unemployment, it is clear that U S Is far into the economic recovery—and that progress has been broadly shared—but it is not all the way there yet.
[4] Youth summer employment generally peaks in July, although the patterns of youth activity during the month have evolved substantially over time.
[5]Several industries performed notably in the previous month
Source White House