The Pardu

June Jobs Report (Good News Overshadowed By Concerns)

In Jared Bernstein, June Jobs Report, Patrick Gillespie on July 2, 2015 at 12:22 PM

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chart jobs report 070215

BUT….. (Always the “BUT.”)

CNN’s Patrick Gillespie 

Jobs gains came across the board last month. Coming on the heels of the Supreme Court’s decision to uphold the Affordable Care Act, health care gained 40,000 jobs in June. Hiring in professional and business services — accountants, lawyers — rose by 64,000 too. 

The job news comes right after another key development: Americans are picking up their spending. The personal consumption expenditure — a measure of spending — posted the best monthly rise in May since 2009, according to the Commerce Department. 

Still, the news wasn’t all cheery. Wage growth remains well below where the Fed — most Americans — want it to be, and the number of people who work part-time jobs but want full-time jobs also remains very high at 6.5 million. These so-called involuntary part-time workers are a major concern for the economy and the Fed.
Read more here

Yet, the numbers are shadow by concerns indicating stale improvements in the economy and jobs numbers that are shy of “expectations.” Even, the normally optimistic Jared Bernstein tempered the news with concerns shared by many experts.

Of course, the alternative would be much worse news, now wouldn’t it?


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