Private Payrolls Expected To Boost US Jobs in July

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    The US Labor Department July jobs report on…



    JOLTS – Job openings fell to 7.35 million in May, from 7.38 million in May

    Leaving a gap of 1.37 million compared to unemployed workers.

    via Job Openings and Labor Turnover Survey. or JOLTS report

    The change in job openings left the gap between vacancies and those considered unemployed at 1.37 million, a decrease of 123,000 from May. Unemployed workers are defined as those out of work who’ve looked for a job and are available for hire.

    Trade, transportation and utilities vacancies stood at 1.4 million,
    Education and health services
    Professional and business services 1.3 million each.

    Quits fell 55,000 to 3.43 million. That left the quits rate among total workers unchanged at 2.3%, where it has remained through the year. Considered an indicator of labor market mobility is it measures employees who voluntarily left their jobs,


    US initial jobless claims 209K v 215K estimate for week of August 3, 2019

    The prior week was revised higher to 217K from 215K previously reported

    Continuing claims 1684K v 1690K estimate. Prior week 1699K
    Four-week average for jobless claims 212.25k v 211.5 0K
    Four-week average for continuing claims 1687.25K versus 1698.2 5K

    The largest increases in initial claims for the week ending July 27 were in Illinois (+2,369), Iowa (+545), Maine (+72), Vermont (+27), and New Hampshire (+17),

    The largest decreases were in Michigan (-4,429), Kentucky (-3,346), Georgia (-1,832), Pennsylvania (-1,347), and California (-903).


    August 8: Atlanta Fed WageGrowth Tracker shows median wage growth was 3.9% in July.

    The Atlanta Fed’s Wage Growth Tracker is a measure of the nominal wage growth of individuals. It is constructed using microdata from the Current Population Survey (CPS), and is the median percent change in the hourly wage of individuals observed 12 months apart. Our measure is based on methodology developed by colleagues at the San Francisco Fed.


    US initial jobless claims 220K v 212K estimate
    Prior week revised to 211K v 209K
    4-week average of initial jobless claims 213.75K v 212.75K last

    US continuing jobless claims 1726K vs 1685K estimate
    Prior week was revised to 1687K from 1684K
    4-week average of continuing claims 1697.25K vs 1688K last week

    US new weekly unemployment claims were +5,000 YoY.

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