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A high rate of employment has many positive benefits including helping the economy and reducing dependence on government. There is nothing more important to address income inequality than JOBS.
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The number of people employed in the United States hit a record 157,878,000 in August, according to the employment report released today by the Bureau of Labor Statistics.
That's an increase of 590,000 from the record 157,228,000 employed in July.
The unemployment rate held steady at 3.7 percent. For blacks, the unemployment rate dropped to a record low of 5.5 percent last month. And for Hispanics, the unemployment rate was 4.2 percent in August, which ties the record low set earlier this year.
The unemployment rate held steady in August and that is a good thing. But the jobs created disappointed badly suggesting that companies are holding back on hiring because of uncertainty over the effects of Trump tariffs. The jobs number supports falling manufacturing data from a couple days back as well. The low rate of job creation is also lower than the new entrants seeking jobs, so if nothing else, the unemployment rate will rise over time at this low level of job creation. In summary, there is little to cheer about in this months report and much to cause concern.
So, how would you spin record employment numbers? Do you hate working people?
Miss me with that nonsense.
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