Weatherford Opinion

August 12, 2014

A fresh look at employment growth

National employment growth once again topped the 200,000 level in July, putting together the longest string of monthly gains of that magnitude since the late 1990s. The latest US Bureau of Labor Statistics data shows an increase of 209,000, bringing the total US job gain over the past 12 months to almost 2.3 million. While the unemployment rate ticked up very slightly to 6.2 percent because there were more new entrants into the workforce than jobs added, there has been notable improvement over the past year. We are finally well over the prior peak back in January 2008, and the job situation is showing signs of lasting and sustainable improvement. The numbers of people losing their jobs has been trending downward, signaling stability. However, there are still some problem areas.

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