The number of people out of work for 27 weeks or longer -- the so-called long-term unemployed -- decreased as a percentage of all jobless to 32.8 percent, the lowest since June 2009.Elsewhere Reuters connected the dots: the decrease in long-term unemployed coincided with the end of benefits for the long-term unemployed. Imagine that.
These are the other numbers:
Job creation surged beyond expectations in June and the unemployment rate fell to an almost six-year low, underscoring the strength of a U.S. labor market that will help spur a rebound in growth.
That's huge.The addition of 288,000 jobs followed a 224,000 gain the prior month that was bigger than previously estimated, Labor Department figures showed today in Washington. The median forecast in a Bloomberg survey of economists called for a 215,000 advance. The number of long-term unemployed Americans fell to 3.1 million, showing they're having greater success finding work.
I think Reuters mentioned some time ago that more people working means there are more paychecks being cashed.
I see Bloomberg has continued to call the 1Q14 collapse (their word, not mine)is now nothing but a slump in the rear-view mirror. It's all hunky-dory from here on out. I think there was a lot of concern on Wall Street that the Hobby Lobby Supreme Court ruling was going to kill the job market. Maybe that's next month.
Let's see. The last data point: the four-week average -- it was probably in the article, but I couldn't find it and I have to move on.
