July Employment +117,000 with Private Sector +154,000; Unemployment Rate 9.1%

I was thinking we’d have a pretty solid number, if for nothing else the previous 2 months were so horrid and had deteriorated so quickly that we’d have some reversion to a mean. However, I would not be placing bets on it. Indeed, the number came in quite solid at 117,000 job gains with a better number in the private sector. Will have to see how many of these gains came from ‘birth death’ model but with such a bad oversold condition and sour mood on Wall St anything in the 100K range would be good enough I think.

The unemployment rate ticked down 0.1% to 9.1%. Digging for more info and will update shortly.

Average hourly earnings up 0.4% versus last month’s 0.0% (big improvement)

Average hourly workweek flat at 34.3 hours.

Labor force dropped to 63.9%, which explains the drop in the headline unemployment rate. Awful.

About Mark Hanna 543 Articles

Affiliation: Hanna Capital, LLC

Mark Hanna is President and Owner of Hanna Capital, LLC, a registered investment advisory firm. Mark has been a follower of markets since the late 80s, with a focus on individual equities since the mid 90s. He has been a well known commentator in the financial blogosphere for the past 5 years, following a career in corpoporate finance and accounting. Mark attended the University of Michigan where he graduated with a degree in Economics.

As an avid reader, Market Montage is the personal blogging site for Mark to share his views on economics, markets, and the like. Occasional cynicism and wit shall be deployed in his postings.

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