Chart of the Day: Net New Jobs in July

The American economy added 209,000 new jobs last month, 90,000 of which were needed to keep up with population growth. This means that net job growth clocked in at 119,000 jobs. That’s an OK number, about the same as last month and equal to the average of the past three years. The headline unemployment rate ticked down slightly to 4.3 percent, all of it due to an increase in the number of employed people. A net of about 150,000 people re-entered the labor force, and the labor participartion rate ticked up slightly.

Hourly earnings of production and nonsupervisory employees went up at an annual rate of 3.4 percent. Inflation is currently running at 1.6 percent, so that’s pretty good. If we could only keep this up for a year or two, we might have a real recovery. All in all, this was a modestly positive report with no real downsides.

MORE HARD-HITTING JOURNALISM

In 2014, before Donald Trump announced his run for president, we knew we had to do something different to address the fundamental challenge facing journalism: how hard-hitting reporting that can hold the powerful accountable can survive as the bottom falls out of the news business.

Being a nonprofit, we started planning The Moment for Mother Jones, a special campaign to raise $25 million for key investments to make Mother Jones the strongest watchdog it can be. Five years later, readers have stepped up and contributed an astonishing $23 million in gifts and future pledges. This is an incredible statement from the Mother Jones community in the face of huge threats—both economic and political—against the free press.

Read more about The Moment and see what we've been able to accomplish thanks to readers' incredible generosity so far, and please join them today. Your gift will be matched dollar for dollar, up to $500,000 total, during this critical moment for journalism.

We Recommend

Latest

Sign up for our newsletters

Subscribe and we'll send Mother Jones straight 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

We have a new comment system! We are now using Coral, from Vox Media, for comments on all new articles. We'd love your feedback.