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Payrolls rise 164,000 Labor force hits new record
Posted By: Bunker
Date: 8/2/19 11:51
Conservatives and liberals can claim a win here. For conservatives, proof that Trump's policies are building the jobs he said they would. Also,low unemployment certainly causes wages to rise. Liberals can claim that raising minimum wage did not stifle job growth.
But, rest assured liberals will be the only ones finding something to bitch about. Probably that too many people are working multiple jobs or something like that. With all of this "living wage" debate bullshit, the need for social assistance should logically decline.
The Labor Department reported Friday that payrolls increased 164,000 during the month, just 1,000 below the 165,000 Dow Jones forecast that also matched the average monthly gain for the year. In 2018, the economy created 223,000 jobs a month.
Wages also continued to increase, with the 3.2% year-over-year gain topping expectations by one-tenth of a percentage point. Average weekly hours edged lower to 34.3.
Labor force hits a new record
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