Last Friday (August 6, 2021), the US Bureau of Labor Statistics (BLS) released their latest labour market data – Employment Situation Summary – July 2021 – which reported a total payroll employment rise of 943,000 and a 0.5 points decline in the official unemployment rate to 5.4 per cent. The results are strong even though the US labour market is still 5,702 thousand jobs short from where it was at the end of February 2020, which helps to explain why there are no fundamental wage pressures emerging....Bill Mitchell – billy blog
US labour market continues to recover – but a long way to go yet
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia
1 comment:
LOL so the inflationistas are telling us the Fed has to raise rates because things are going too well….
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