Employers added 528,000 jobs in July, as the hot labor market powers on
Source: Washington Post
The hot labor market continued to show rapid growth in July, with employers adding 528,000 jobs, despite fears of a recession.
The unemployment rate edged down to 3.5 percent, according to the Bureau of Labor Statistics. In July, the labor market continued to show stunning growth that afforded workers historic wage gains and more leverage at their jobs.
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The labor market has shown little signs of cooling off, proving to be a pillar of strength for an economy facing strong head winds. Other indicators, especially inflation at 40-year highs and six months of negative economic growth paint a less rosy picture. The financial markets have lost trillions of dollars in value this year, and one measure of consumer sentiment hit a record low in June.
A slowdown in job growth would have indicated that the Fed's interest rate hikes are achieving their intended goal of cooling down the labor market. As the Fed continues to raise rates, and borrowing becomes more expensive for households and companies, workers will probably have less leverage in the job market than they did earlier this year. Also, higher interest rates could lead to a wave layoffs.
Read more: https://www.washingtonpost.com/business/2022/08/05/jobs-report-july-2022/
No paywall link
This was definitely a surprise.
Stand by for DU's economy analysts to offer the deep data dives!
= new reply since forum marked as read
Every one of these data series comes with a table and graph.
# Nonfarm Employment (Establishment Survey, https://data.bls.gov/timeseries/CES0000000001
Monthly changes (in thousands): https://data.bls.gov/timeseries/CES0000000001?output_view=net_1mth
NOT SEASONALLY ADJUSTED: https://data.bls.gov/timeseries/CEU0000000001
# Employed in thousands from the separate Household Survey, http://data.bls.gov/timeseries/LNS12000000
Monthly changes (in thousands): http://data.bls.gov/timeseries/LNS12000000?output_view=net_1mth
NOT SEASONALLY ADJUSTED: https://data.bls.gov/timeseries/LNU02000000
# Nonfarm PRIVATE Employment (Establishment Survey, https://data.bls.gov/timeseries/CES0500000001
Monthly changes: https://data.bls.gov/timeseries/CES0500000001?output_view=net_1mth
^-Good for comparison to the ADP report that typically comes out a few days earlier
NOT SEASONALLY ADJUSTED: https://data.bls.gov/timeseries/CEU0500000001
# INFLATION ADJUSTED Weekly Earnings of Production and Non-Supervisory Workers http://data.bls.gov/timeseries/CES0500000031
# Labor Force http://data.bls.gov/timeseries/LNS11000000?output_view=net_1mth
The labor force is the sum of employed and unemployed. To count as unemployed, one must have actively sought work in the past 4 weeks (just looking at want ads and job postings doesn't count)
# ETPR (Employment-To-Population Ratio) aka Employment Rate http://data.bls.gov/timeseries/LNS12300000
# LFPR (Labor Force Participation rate) http://data.bls.gov/timeseries/LNS11300000
Unemployed, Unemployment Rate
# Unemployed http://data.bls.gov/timeseries/LNS13000000
# Unemployment rate http://data.bls.gov/timeseries/LNS14000000
# Black unemployment rate (%), https://data.bls.gov/timeseries/LNS14000006
# Hispanic or Latino unemployment rate (%), https://data.bls.gov/timeseries/LNS14000009
# White unemployment rate (%), https://data.bls.gov/timeseries/LNS14000003
# U-6 unemployment rate http://data.bls.gov/timeseries/LNS13327709
------------ end unemployed, unemployment rates --------
# NILF -- Not in Labor Forcehttp://data.bls.gov/timeseries/LNS15000000
# NILF-WJ -- Not in Labor Force, Wants Job http://data.bls.gov/timeseries/LNS15026639
# Part-Time Workers who want Full-Time Jobs (Table A-8's Part-Time For Economic Reasons) http://data.bls.gov/timeseries/LNS12032194
# Part-Time Workers (Table A-9) http://data.bls.gov/timeseries/LNS12600000
# Full-Time Workers (Table A-9) http://data.bls.gov/timeseries/LNS12500000
# Multiple Jobholders as a Percent of Employed (Table A-9) https://data.bls.gov/timeseries/LNS12026620
# Civilian non-institutional population
Seasonally adjusted (they seem to have gotten rid of this) https://data.bls.gov/timeseries/LNS10000000
NOT seasonally adjusted: https://data.bls.gov/timeseries/LNU00000000
LFPR - Labor Force Participation Rate for some age groups
The LFPR is the Employed + jobless people who have looked for work in the last 4 weeks (and say they want a job and are able to take one if offered). All divided by the civilian non-institutional population age 16+.
SA means Seasonally adjusted. NSA means Not Seasonally Adjusted
16+: SA: http://data.bls.gov/timeseries/LNS11300000 NSA: http://data.bls.gov/timeseries/LNU01300000
25-34: SA: http://data.bls.gov/timeseries/LNS11300089 NSA: http://data.bls.gov/timeseries/LNU01300089
25-54: SA: http://data.bls.gov/timeseries/LNS11300060 NSA: http://data.bls.gov/timeseries/LNU01300060
55-64: -------------------- NSA: https://data.bls.gov/timeseries/LNU01300095
55+: SA: http://data.bls.gov/timeseries/LNS11324230 NSA: http://data.bls.gov/timeseries/LNU01324230
65+: SA: ---------------- NSA: http://data.bls.gov/timeseries/LNU01300097
LFPR - Labor Force Particpation Rate (prime age 25-54) by gender
All: http://data.bls.gov/timeseries/LNS11300060
Men: http://data.bls.gov/timeseries/LNS11300061
Women: http://data.bls.gov/timeseries/LNS11300062
ETPR - Employment to Population Ratio for some age groups
SA means Seasonally adjusted. NSA means Not Seasonally Adjusted
16+: SA: http://data.bls.gov/timeseries/LNS12300000 NSA: http://data.bls.gov/timeseries/LNU02300000
25-34: http://data.bls.gov/timeseries/LNS12300089 NSA: http://data.bls.gov/timeseries/LNU02300089
25-54: SA: http://data.bls.gov/timeseries/LNS12300060 NSA: http://data.bls.gov/timeseries/LNU02300060
55-64: SA: ---------------- NSA: https://data.bls.gov/timeseries/LNU02300095
55+: SA: http://data.bls.gov/timeseries/LNS12324230 NSA: http://data.bls.gov/timeseries/LNU02324230
65+: SA: ---------------- NSA: http://data.bls.gov/timeseries/LNU02300097
Inflation rate (CPI)
. . . Monthly report: https://www.bls.gov/news.release/cpi.nr0.htm
. . . The Data Series: https://data.bls.gov/timeseries/CUSR0000SA0
. . . . . . Monthly changes: https://data.bls.gov/timeseries/CUSR0000SA0?output_view=pct_1mth
. . . Calculator at: https://www.bls.gov/data/inflation_calculator.htm
Grocery prices (food at home) inflation compared to overall inflation rate
. . . . . https://www.in2013dollars.com/Food-at-home/price-inflation
. . . From 1947 to 2021 and from 2000 to 2021, food at home inflation very slightly lagged the overall inflation rate
. . . . . https://www.democraticunderground.com/10142735789
Data series finder: https://www.bls.gov/data/#employment
The entire report: http://www.bls.gov/news.release/pdf/empsit.pdf
Archives of previous reports - The monthly payroll employment reports from the BLS are archived at Archived News Releases (https://www.bls.gov/bls/news-release/ ). In the list up at the top, under Major Economic Indicators, select Employment Situation ( https://www.bls.gov/bls/news-release/empsit.htm ). That opens up links to reports going back to 1994. Hat tip Mahatmakanejeeves.
Edit: Oops
, meant to post as response to OP, but its OK here I think
I love it when people give me data 
Especially if it's a great data source!!! And for free too!!
Let's get those unemployment numbers up to Trump 2020 levels 
I suppose the stickers on the pumps are going tro be harder to "remove".
Unintended consequences! 
Last Updated: Aug. 5, 2022 at 8:59 a.m. ET
First Published: Aug. 5, 2022 at 8:12 a.m. ET
By Jeffry Bartash
The numbers The U.S. added a surprisingly strong 528,000 new jobs in July and the unemployment rate fell to pre-pandemic levels in a muscle-flexing display for the economy, but the robust report could add to inflation worries and push interest rates even higher. Economists polled by The Wall Street Journal had forecast 258,000 new jobs. Hiring was broad based. Every major sector increased employment. And the number of people working finally returned to February 2020 levels.
The unemployment rate, meanwhile, slipped to 3.5% from 3.6%, the government said Friday, matching the lowest level since the late 1960s. In premarket action, U.S. stocks turned lower. The large increase in hiring contradicts another key government report that suggests the U.S. teeters on recession, but it won’t be viewed in a positive light by the Federal Reserve.
The Fed is sharply raising U.S. interest rates to try to reverse the worst outbreak of inflation in almost 41 years. Higher rates slow the economy by raising the cost of borrowing for businesses and consumers. The shockingly robust July jobs report could persuade the Fed that even tougher medicine is needed. The central bank worries the tight labor market is driving wages sharply higher and making it harder to get inflation under control.
Although some businesses have cut back on hiring or even resorted to layoffs, many companies are still filling open jobs. Most are offering higher pay for new workers or raising wages for current employees to keep them from leaving. Hourly pay jumped 0.5% in July to $32.27. The increase in pay over the past year was flat at 5.2%, but it’s still one of the fastest increase since the early 1980s.
(snip)
https://www.marketwatch.com/story/coming-up-u-s-jobs-report-for-july-11659701564?mod=bnbh
Copied from:
Sat Nov 7, 2020: Additional links:
It used to be that you could get free access to articles in The Wall Street Journal. by going in through TWSJ.'s Twitter account or the Twitter accounts of the authors:
For free access to articles in The Wall Street Journal., trying going in through the authors' Twitter feeds:
This trick doesn't seem to work anymore, but you might be able to get in if they've slipped up. Here are those accounts:
* * * * *
The Wall Street Journal.: @WSJ
https://twitter.com/wsj
Wall Street Journal
Breaking news and features from the WSJ.
* * * * *
Ben Leubsdorf: @BenLeubsdorf
https://twitter.com/BenLeubsdorf
I cover the economy at @WSJ. @ConMonitorNews, @AP, @the_herald alum. DC native. Hyperactive news omnivore. Also I like burritos. ben.leubsdorf@wsj.com
* * * * *
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https://twitter.com/JoshZumbrun
National economics correspondent for the Wall Street Journal. Covering the world's usual state of greed and disorder, confusion and apathy. josh.zumbrun@wsj.com
* * * * *
Nick Timiraos: @NickTimiraos
https://twitter.com/NickTimiraos
National economics correspondent, The Wall Street Journal
Please look at the tweets, as Nick Timiraos likes to slice and dice the data every which way. Also, link to the "11 charts " article from his Twitter feed to get past TWSJ.'s paywall.
* * * * *
Jeffrey Sparshott: @jeffsparshott
https://twitter.com/jeffsparshott
Jeffrey.Sparshott@wsj.com
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Paul Vigna: @paulvigna
https://twitter.com/paulvigna
Markets, bitcoin, and the zombie apocalypse.
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Eric Morath: @EricMorath
https://twitter.com/EricMorath
Eric.Morath@wsj.com
I'm a Wall Street Journal economy reporter, dad, husband and Spartan for life. eric.morath@wsj.com
Washington DC
blogs.wsj.com/economics/
* * * * *
Sarah Chaney: ?@sechaney
https://twitter.com/sechaney
Economy Reporter at The Wall Street Journal. Tar Heel. sarah.chaney@wsj.com
* * * * *
corporate greed because these businesses get punished by the business media for not having excessive "profits" for the stockholders.
Published Tue, Jul 26 20223:16 PM EDTUpdated Wed, Jul 27 20229:44 AM EDT
Lori Ann LaRocco
@loriannlarocco
As major retailers Walmart and Target deal with waning demand from the consumer in some categories, warehouse capacity remains tight across the U.S. and inventories continue to pile up. Walmart’s announcement this week that it was cutting its quarterly and full-year profit guidance is the latest retail casualty, showing inflation’s impact on the consumer and a shift in spending patterns that can whipsaw even the largest retailers. The company said it had to cut prices at its stores to reduce excess inventory.
That followed Target’s slashed forecast for the second quarter last month, which it attributed to having too much merchandise, and particular categories, such as small appliances, that saw a drop in demand. The tight warehouse situation is not likely to change, according to Warehouse Quote’s latest Warehouse Pricing Index (WPI). U.S. national vacancy rates are around 3%, and in port markets, the availability of space is around sub-1%.
“It’s really incredible,” said Ben Hagedorn, CEO of Warehouse Quote in an interview that took place before Walmart’s announcement this week. “We’ve also seen a 20% year-over-year rate increase for warehouse space, so we are seeing significant inflation there. We are also reporting seven consecutive quarters of positive net absorption. Warehouse capacity for imports remains to be an issue across the U.S.”
Items being stored in warehouses, according to Hagedorn, are the typical seasonal items and durable goods like appliances. Hagedorn said the broader trends his firm is seeing inside the warehouse are a transition from the “just in time” to the “just in case” mentality among companies, and inventory-to-sales ratios “continuing to go up across industries.”
(snip)
https://www.cnbc.com/2022/07/26/the-bigger-warehouse-story-behind-the-walmart-consumer-demand-issues.html
"Cut prices" means they are overcharging = "inflation" (of prices) and "excess inventory" means NO "supply chain" issues for those products. And this -
means they can't find enough warehouse space to store all of their supposed "supply chain issue" products.
Gotta keep "The Narrative®" going.
A lot of pretzel twisting going on!
(Gas prices)
(Futures price for wheat)
(PPI)
I'm not sure their seasonal adjustment accounts for things falling on different parts of the calendar - like a late or early Easter, or a Christmas that falls in the midweek vs. one that falls on the weekend of Friday/Monday, etc. I suppose the same thing happens with school starts and school let-outs.
The pundits (and IMF) are saying the world economy is slowing down and that's a large part of the reason for easing oil and other commodity prices ...
I suppose they'll have to chew on this slowing world economy some more at least as far as the U.S. part of it, given the +528,000 jobs
I had a dream during my nap. I was talking the job numbers with someone, and someone else who didn't hear all the conversation, said wow! Stocks up 528! Great!
And I explained, no, it's 528,000, not 528!
To which he said, stocks up 528,000! That's super!
To which I tried explaining that, no, we're talking new jobs, not stocks ...
but in the dream it was even more complicated than this and I never succeeded (before I woke up) in getting across that jobs increased 528,000
I think this stuff is getting to me
so they have the "back to the dorm" sales with the sheets/comforters, desk lamps, of course the tech (laptops), etc. Then you have the rest of the schools usually starting that last week of August or first week of September after Labor Day. I already heard some business reports along the lines of parents "averaging" about $200 per child for these items (including clothes/shoes and all the pens/pencils/binders/backpacks, etc).
And yeah, the rest of the world is in pretty rough shape - partly due to not being "energy independent" in the middle of this Russia/Ukraine war, and then the commodities that are best grown in certain parts of the world that are not only getting impacted by that war too, but by the weather.
We are very fortunate here were (outside of the obvious microchip issue, which really shouldn't be an issue), we can grow and raise pretty much anything in the world (including some very tropical stuff) as well as having access to our own energy sources.
And LOL @ that dream!!!
As they say, even when you sleep, your brain is still trying to process and file away stuff and that was a big data file that needed to be sorted and filed!
It's like that beer ad - "Tastes great! No, less filling!" but instead "That was the stocks! No, that was the jobs!"
Let me posit this - 12 months ago (or just a little over that going back to May 2021), that was when the "Throw off your masks, go hug your grandkids" exhortation came, with the vaccines being distributed, and people footloose and fancy free with the "economy open for business".
But meanwhile Delta was building to a crescendo at that point hitting a peak in the fall, only to be dwarfed by Omicron.
So given that 2021 was the first "lockdown free" year (but now had some vaccine mandates), you may have had that desperation thing going on to get people hired RIGHT AWAY with some much higher starting salaries being waved about (for certain sectors).
Now a year later, the market has shifted and settled a bit and I also think you had a lot of retirees too (who would have been making higher salaries than the younger set), their exit dropping the overall wagess/benefits down, year over year.
Just some speculation adding some underlying issues into the picture.
Eat that you GOP doomsayers!
I am so glad Joe Biden is our President.
I live in a mostly senior community and one 84 year old guy said to me today, "Hell, even I could go get a job right now."
