Chart of the Day: Net New Jobs in June

The American economy gained 224,000 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 a fairly strong 134,000 jobs. Here’s how things broke down generally, using data from the household survey:

That’s very healthy. The labor force grew faster than population growth, which means people are coming in off the sidelines to look for jobs. Of these new entries, however, many didn’t find jobs and were counted as unemployed (as opposed to not even looking), which is why the headline unemployment rate ticked up slightly to 3.7 percent.

On the earnings side, the news wasn’t as good. Wages of production and nonsupervisory workers increased at an annualized rate of about 2.1 percent. Adjusted for inflation, that’s nearly zero.

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We didn't know what to expect when we told you we needed to raise $400,000 before our fiscal year closed on June 30, and we're thrilled to report that our incredible community of readers contributed some $415,000 to help us keep charging as hard as we can during this crazy year.

You just sent an incredible message: that quality journalism doesn't have to answer to advertisers, billionaires, or hedge funds; that newsrooms can eke out an existence thanks primarily to the generosity of its readers. That's so powerful. Especially during what's been called a "media extinction event" when those looking to make a profit from the news pull back, the Mother Jones community steps in.

The months and years ahead won't be easy. Far from it. But there's no one we'd rather face the big challenges with than you, our committed and passionate readers, and our team of fearless reporters who show up every day.

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