Chart of the Day: Net New Jobs in June

The American economy gained 213,000 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 123,000 jobs. The headline unemployment rate rose to 4.0 percent, largely because a whopping 600,000 people entered the labor force, of which 500,000 were unemployed. This is most likely due to high school and college kids graduating, so it’s nothing to worry about.

Wages of production and nonsupervisory workers were up at an annualized rate of 2.2 percent. Unfortunately, the latest CPI report shows inflation running at an annualized rate of 2.5 percent, which means workers got a pay cut last month. Overall, the employment situation seems to still be fine, but workers just can’t seem to string together any decent wage gains. The last six years have been a pretty good recovery for the rich, but pretty ho-hum for the rest of us.

LESS DREADING, MORE DOING

This is the rubber-meets-road moment: the early days in our first fundraising drive since we took a big swing and merged with CIR to bring fearless investigative reporting to the internet, radio, video, and everywhere else that people need an antidote to lies and propaganda.

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LESS DREADING, MORE DOING

This is the rubber-meets-road moment: the early days in our first fundraising drive since we took a big swing and merged with CIR to bring fearless investigative reporting to the internet, radio, video, and everywhere else that people need an antidote to lies and propaganda.

Donations have started slow, and we hope that explaining, level-headedly, why your support really is everything for our reporting will make a difference. Learn more in “Less Dreading, More Doing,” or in this 2:28 video about our merger (that literally just won an award), and please pitch in if you can right now.

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