Free Markets, Free People

Economic Statistics for 8 Jul 16

In June, a greater-than-expected 287,000 net new jobs were created as the unemployment rate rose 0.2% to 4.9%, as 414,000 entrants came into the labor force, bringing the Labor force participation rate up 0.1% to 62.7%. Average hourly earnings rose 0.1%, while the average workweek was unchanged at 34.4 hours.

Consumer credit rose a large $18.6 billion in May, but the growth was mainly in non-revolving credit, indicating relatively weak consumer spending.

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