Unemployment Rate Falls To 5.3 Percent, But For The Wrong Reason

[CherryPanda]

The U.S. economy keeps adding jobs at a steady pace, but the Labor Department report for June shows more people are also leaving the labor force and that wages are not rising.

The economy added 223,000 jobs last month as unemployment fell to its lowest rate since 2008, the Labor Department said Thursday. The Jobless rate dipped to 5.3 percent from 5.5 percent in May.

However, the number of net new jobs added in May was revised down to 254,000 from 280,000 previously reported. April's job gains were also revised downward.

Retailers added about 33,000 jobs in June and manufacturing grew by 4,000 but construction jobs were unchanged, the report said.

Those looking for an increase in wages in this report were disappointed, as average weekly earnings remained flat along with average weekly hours.

Unemployment Rate Falls To 5.3 Percent But For The Wrong Reason The Two-Way NPR

It's sort of the same news as the one below, but not exactly. The point of view is different and not that enthusiastic.
Though some things get better, others don't change or even get worse. Plus, it's just one or several months reports. While economy is a clumsy thing that moves slowly. And it changes significantly in long-term.
So I think that we should be more critical in perceiving the statistical data. Especially when someone juggles them just as they do in such articles.

 

[LoneLaugher]

Dizzy yet?

 

[gipper]

The REAL unemployment rate is about 43%, but the truth is not likely to EVER be presented by an unlimited government.

See David Stockman's column....
The Warren Buffett Economy Why Its Days Are Numbered Part 4 David Stockman s Contra Corner

 

[pinqy]

The REAL unemployment rate is about 43%, but the truth is not likely to EVER be presented by an unlimited government.

See David Stockman's column....
The Warren Buffett Economy Why Its Days Are Numbered Part 4 David Stockman s Contra Corner

You are claiming that 40% of those working or available and actively lookng for work are not working?

Or did you make up your own definition?