{"id":200131,"date":"2021-07-02T18:11:00","date_gmt":"2021-07-02T23:11:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2021\/07\/02\/the-overs-win\/"},"modified":"2021-07-02T18:11:00","modified_gmt":"2021-07-02T23:11:00","slug":"the-overs-win","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2021\/07\/02\/the-overs-win\/","title":{"rendered":"The Overs Win"},"content":{"rendered":"<p><a href=\"https:\/\/i.imgur.com\/eN1TIhG.png\"><img decoding=\"async\" src=\"https:\/\/i.imgur.com\/eN1TIhG.png\" style=\"cursor: pointer; float: right; margin: 0px 0px 10px 10px;\" width=\"350\" \/><\/a>The US economy <a href=\"https:\/\/www.wsj.com\/articles\/june-jobs-report-unemployment-rate-2021-11625176511?mod=hp_lead_pos1\">U.S. added 850,000 jobs in June<\/a>, well over the consensus estimate of&nbsp; 706,000.<\/p>\n<p>One fly in the ointment though, long term unemployment numbers continued to rise:<\/p>\n<p>The U.S. labor market recovery is accelerating after a spring lull. <\/p>\n<blockquote><p><span style=\"color: #2b00fe;\">Employers <a href=\"https:\/\/www.bls.gov\/news.release\/pdf\/empsit.pdf\">added 850,000 jobs<\/a> in June\u2014the biggest gain in 10 months\u2014and workers\u2019 wages rose briskly, the government said Friday, both signs of robust demand for workers. <\/p>\n<p>The unemployment rate, derived from a separate survey of households, rose to 5.9% last month from 5.8% in May. That was in part because of a positive development: A modest number of Americans came off the sidelines and entered the job search, expanding the labor pool. A broader measure of unemployment that takes into account workers stuck in part-time jobs and those too discouraged to look for work fell sharply last month. <\/p>\n<p>Job growth lagged behind broader economic growth earlier this spring, with the economy adding 583,000 jobs in May and 269,000 in April. But big hurdles to hiring are starting to clear away. Rising vaccination rates, easing government restrictions on businesses and the <a href=\"https:\/\/www.wsj.com\/articles\/americans-are-leaving-unemployment-rolls-more-quickly-in-states-cutting-off-benefits-11624786202?mod=article_inline\">expiration of unemployment benefits<\/a> in many states are stoking the latest growth.<\/span><\/p><\/blockquote>\n<p>That last phrase is a bit of editorializing by the writer.&nbsp; There is still no evidence that extended unemployment benefits are keeping people off of the job markets, but it&#8217;s dogma at places like the <i>WSJ<\/i>.<\/p>\n<p>We are still not over the hump.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The US economy U.S. added 850,000 jobs in June, well over the consensus estimate of&nbsp; 706,000. One fly in the ointment though, long term unemployment numbers continued to rise: The U.S. labor market recovery is accelerating after a spring lull. Employers added 850,000 jobs in June\u2014the biggest gain in 10 months\u2014and workers\u2019 wages rose briskly, &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,975,1089,992],"tags":[],"class_list":["post-200131","post","type-post","status-publish","format-standard","hentry","category-economy","category-employment","category-recession","category-statistics"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/200131"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=200131"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/200131\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=200131"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=200131"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=200131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}