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.

DOES IT FEEL LIKE POLITICS IS AT A BREAKING POINT?

Headshot of Editor in Chief of Mother Jones, Clara Jeffery

It sure feels that way to me, and here at Mother Jones, we’ve been thinking a lot about what journalism needs to do differently, and how we can have the biggest impact.

We kept coming back to one word: corruption. Democracy and the rule of law being undermined by those with wealth and power for their own gain. So we're launching an ambitious Mother Jones Corruption Project to do deep, time-intensive reporting on systemic corruption, and asking the MoJo community to help crowdfund it.

We aim to hire, build a team, and give them the time and space needed to understand how we got here and how we might get out. We want to dig into the forces and decisions that have allowed massive conflicts of interest, influence peddling, and win-at-all-costs politics to flourish.

It's unlike anything we've done, and we have seed funding to get started, but we're looking to raise $500,000 from readers by July when we'll be making key budgeting decisions—and the more resources we have by then, the deeper we can dig. If our plan sounds good to you, please help kickstart it with a tax-deductible donation today.

Thanks for reading—whether or not you can pitch in today, or ever, I'm glad you're with us.

Signed by Clara Jeffery

Clara Jeffery, Editor-in-Chief

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