Chart of the Day: Net New Jobs in June

The American economy gained 213,000 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 123,000 jobs. The headline unemployment rate rose to 4.0 percent, largely because a whopping 600,000 people entered the labor force, of which 500,000 were unemployed. This is most likely due to high school and college kids graduating, so it’s nothing to worry about.

Wages of production and nonsupervisory workers were up at an annualized rate of 2.2 percent. Unfortunately, the latest CPI report shows inflation running at an annualized rate of 2.5 percent, which means workers got a pay cut last month. Overall, the employment situation seems to still be fine, but workers just can’t seem to string together any decent wage gains. The last six years have been a pretty good recovery for the rich, but pretty ho-hum for the rest of us.

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We've never been very good at being conservative.

And usually, that serves us well in doing the ambitious, hard-hitting journalism that you turn to Mother Jones for. But it also means we can't afford to come up short when it comes to scratching together the funds it takes to keep our team firing on all cylinders, and the truth is, we finished our budgeting cycle on June 30 about $100,000 short of our online goal.

This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

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