Chart of the Day: Net New Jobs in July

The American economy gained 164,000 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 74,000 jobs. This is a modest number, but it happened for all the right reasons. BLS recorded 283,000 newly employed plus another 183,000 who have left the sidelines and re-entered the labor force. Both the labor force participation rate and the employment-population ratio ticked upward slightly.

On the wage side of things, the news was tepid. Hourly wages for blue-collar workers were up at an annual rate of about 0.5 percent after adjusting for inflation. That’s nothing to write home about. What’s worse, the number of hours worked went down, so average weekly wages declined at an annual rate of about 1.6 percent. This continues a trend from last year of workers getting fewer hours, which is now down to its post-recession level.

The upshot of all this is that weekly blue-collar wages have been slowly declining ever since the beginning of the 2019. July was just the latest drop.

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THE TRUTH...

is the first thing despots go after. An unwavering commitment to it is probably what draws you to Mother Jones' journalism. And as we're seeing in the US and the world around, authoritarians seek to poison the discourse and the way we relate to each other because they can't stand people coming together around a shared sense of the truth—it's a huge threat to them.

Which is also a pretty great way to describe Mother Jones' mission: People coming together around the truth to hold power accountable.

And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

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