Chart of the Day: Net New Jobs in August

The American economy gained 130,000 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 very sluggish 40,000 jobs. A lot of people gained employment (590,000) but a lot of people also dropped out of the labor force (364,000). The headline unemployment rate stayed steady at 3.7 percent.

On the wage side of things, the news was very bright. Hourly wages for blue-collar workers increased at an annual rate of over 4 percent after adjusting for inflation. Weekly wages rose about 8 percent after accounting for inflation. These are quite astounding numbers. I hope I didn’t make some kind of dumb arithmetic mistake here.

So this is a mixed report. Job growth was pretty tepid but wage growth was terrific. Go figure.

UPDATE: Actually, wage growth was good but not terrific. More here.

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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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