Chart of the Day: Net New Jobs in July


The American economy added 209,000 new jobs in March, but about 90,000 of those jobs were needed just to keep up with population growth, so net job growth clocked in at 119,000. The headline unemployment rate ticked up slightly to 6.2 percent.

The jobs number is a little lower than expected, and continues to show that the recovery is weak. On the bright side, the unemployment number increased not because more people were out of work, but because more people were entering the labor force. It’s basically not a negative sign. As Jared Bernstein says:

There is some evidence that the all-important labor force participation rate may be stabilizing. It rose a tenth last month to 62.9%, but has wiggled between 62.8% and 62.2% since last August. If the firming job market has in fact arrested the decline in this key metric of labor supply, it will be an important and favorable sign.

Overall, the economy still appears to be dog paddling along. GDP growth is OK but not great; jobs growth is OK but not great; and wage growth is positive but not by very much. More and more, this is starting to look like the new normal.

FOLLOW THE MONEY

Corporations and billionaires don’t fund journalism like ours that exists to shake things up. Instead, support from readers allows Mother Jones to call it like it is without fear, favor, or false equivalence.

And right now, a longtime friend of Mother Jones has pledged an incredibly generous gift to inspire—and double—giving from online readers. That's huge! Because you can see that our fall fundraising drive is well behind the $325,000 we need to raise. So if you agree that in-depth, fiercely independent journalism matters right now, please support our work and help us raise the money it takes to keep Mother Jones charging hard. Your gift, and all online donations up to $94,000 total, will be matched and go twice as far—but only until the November 9 deadline.

$400,000 to go: Please help us pick up the pace!

payment methods

FOLLOW THE MONEY

Corporations and billionaires don’t fund journalism like ours that exists to shake things up. Instead, support from readers allows Mother Jones to call it like it is without fear, favor, or false equivalence.

And right now, a longtime friend of Mother Jones has pledged an incredibly generous gift to inspire—and double—giving from online readers. That's huge! Because you can see that our fall fundraising drive is well behind the $325,000 we need to raise. So if you agree that in-depth, fiercely independent journalism matters right now, please support our work and help us raise the money it takes to keep Mother Jones charging hard. Your gift, and all online donations up $94,000 total, will be matched and go twice as far—but only until the November 9 deadline.

$400,000 to go: Please help us pick up the pace!

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate