Job numbers for June smashed expectations creating 224,000 jobs, 64,000 more than the estimated 160,000.
CSN:
After the Fourth of July fireworks, the fifth of July brings another reason for Americans to celebrate.
A record 157,005,000 people were employed in June, the most since February and the 19th record of Trump’s presidency, the Bureau of Labor Statistics reported on Friday.
And the economy added a strong 224,000 jobs in June, well above the estimate of 160,000.
The unemployment rate, the lowest in 50 years, ticked up a tenth of a point to 3.7 percent.
In June, the nation’s civilian noninstitutionalized population, consisting of all people age 16 or older who were not in the military or an institution, reached 259,037,000. Of those, 162,981,000 participated in the labor force by either holding a job or actively seeking one.
The 162,981,000 who participated in the labor force equaled 62.9 percent of the 259,037,000 civilian noninstitutionalized population. That’s up a tenth of a point from May’s 62.8 percent participation rate. The payroll taxes paid by people who participate in the labor force help support those who do not participate, so the higher this number, the better.
The participation rate reached a record high of 67.3 percent in early 2000; the highest it’s been under Trump is 63.2 percent.
I have stopped paying any attention to the estimated numbers. The estimated numbers are wrong more than they are right and this time it is horribly wrong. The difference between 160,000 and 224,000 is huge because one shows a growing economy and the other shows one slowing down.
The Palmieri Report is a Pro-America News Outlet founded by Jacob Palmieri two years ago at the age of 19. Since its founding, it has gotten over 200k pages views and over 20k followers. The Palmieri Report is dedicated to debunking the lies spread by the left-wing Mainstream Media.
