The Bureau of Labor Statistics (BLS) report released today showed that 156,000 jobs were created in September with average hourly wage growth running at a cycle high of 2.6% . The unemployment rate remained stable at 5.0%.http://go.usa.gov/vrK #JobsReport #BLSdata
More charts and analysis on the September nonfarm payroll employment numbers can be found here: http://go.usa.gov/4UqY #JobsReport #BLSdata
I reduced my 2016 job creation numbers to 190K per month to better reflect our prime age labor force growth in this cycle. Because we are later in the this economic cycle we should expect slowing in the total number of jobs being created. We have been experiencing this slowing in 2016 and this will likely continue in 2017.
From Calculated Risk:
Even with a recession in manufacturing and general economic slow–downs in China, Europe and Japan, unemployment claims in the US just hit a low, on a 4 week moving average, last seen in 1973.
From Calculated Risk:
This has been the longest job month expansion cycle, ever.
72… As in 72 consecutive months of job growth, by far the longest streak in history.
And the last Job Openings print was the highest recorded in U.S. history at 5,900,000.
Not surprising, there is a strong correlation between education level and employment in the U.S. If we want to seriously address filling in the job openings in this country we will need to do a better job at helping people who never went to college, especially high school drop outs, obtain the skills they need to find sustainable employment.
From the Wall Street Journal:
Even though 2016 started with worst stock market performance ever, we have not seen “The Great American Crash” as many bears predicted and seemed to hope for. Instead none of the economic data was recessionary.
Now it’s time to start focusing on 2017. If we can get to 2018 without a recession, this will be the longest economic expansion on record.
I will be speaking at 2016 Americatalyst: Fast Forward,October 30 – November 1st in Austin, Texas.
My panel will be called WITHERING HEIGHTS: House and Rent Price Projections and will include these speakers.
TONI MOSS, CEO, AMERICATALYST LLC and EUROCATALYST BV
TIM SKEET, Senior Advisor, INTERNATIONAL CAPITAL MARKETS ASSOCIATION | ICMA
DOUG BENDT, SVP of Research and Product Development, RENTRANGE
MARK FLEMING, SVP and Chief Economist, FIRST AMERICAN FINANCIAL CORPORATION
LOGAN MOHTASHAMI, Senior Loan Manager, AMC LENDING GROUP
ALLAN WEISS, Founder and Chief Executive Officer, WEISS RESIDENTIAL RESEARCH
(Maybe) a chance to debate David Stockman about U.S. economcis and the role of the Federal Reserve at this event.
Logan Mohtashami is a senior loan officer at AMC Lending Group, which has been providing mortgage services for California residents since 1987. Logan also tracks all economic data daily on his own facebook page https://www.facebook.com/Logan.Mohtashami