US Adds 213,000 Jobs In June, 2018 -- Unemployment Ticks Up To 4% -- July 6, 2018

Updates

July 6, 2018: of course this wasn't covered by the mainstream media. Hispanic-Latino unemployment rate hits lowest level on record this past June (2018). Reported over at CNS. 

In June, the unemployment rate for Hispanics and Latinos, aged 16 and up, was 4.6%, down from its May level of 4.9%. Before June’s record, the lowest monthly Hispanic-Latino unemployment rate since BLS began tracking the statistic in 1973 was 4.8%. 

During the 17 full months of the Trump administration, beginning in February 2017, Hispanic-Latino unemployment has averaged 5.0%.I

But it's even better:

While the Hispanic-Latino unemployment rate had been as low as 4.8% in five months, four of those months were during the administration of President Donald Trump; the lone exception being October of 2006:

1. June 2016: 4.6%
2. October 2006: 4.8%
3. June 2017: 4.8%
4. October 2017: 8%
5. November 2017: 4.8%
6. April 2018: 4.8%

In contrast, the national Hispanic-Latino unemployment rate averaged 9.4% during President Barack Obama’s eight years (96 months) in office, impacted by the 2008 recession, which officially ended in June of 2009

Original Post

What a great way to start the day! From twitter today, the most "with-it" president in modern history --

Rocket Man, Elton John  

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Now, Back To Earth

Jobs, June, 2018, NYT:

• unemployment rate ticks up to 4% (I thought we were running out of workers)
• jobs added last month: 213,000
• in line with forecasts; 200,000
• wage growth, year-over-year: 2.7%
• [by the way, how did American Crystal Sugar contract negotiations work out, one year ago?
• Union accepted "best and final" offer, May, 2017, which called for a 3% in wage increases for four years; followed by a 2.75% increase in the contract's final year]

Jobs, June, 2018, Econoday:

• prior: 223,000
• prior revised: 244,000
• consensus for June: 190,000
• actual: 213,000
• unemployment rate: 4.0% (up from 3.8%)
• participation rate: 62.9% (up from 62.7%)
• average workweek: 34.5 hours (unchanged)

MRO: I'm posting this article not for investment advice, but to talk about MRO in a general way since it is very active in the Bakken. Some data points:

• the Permian operators are facing significant headwinds over the next twelve months
• however, the Permian accounts for just about 4% of MRO's total production
• 
  
• MRO accelerated its growth in Oklahoma, Eagle Ford, and the Bakken
• MRO production 
• 1Q18: 284K boepd
• 1Q17: 208K boepd
• MRO has raised its production guidance form shale to 25 - 30% from prior projection of 20 - 25%
• strategic sell-offs since 2015:
• August, 2015: sold its Wilburton, OK, assets; $102 million
• Novembe,r 2015: sold it Gulf of Mexico assets; $205 million
• April, 2016: sold its Wyoming upstream/midstream: $950 million
• October, 2016: sold some non-core Permian; $235 million
• March, 2017: sold high-cost Canadian oil-sands for $2.5 billion
• 2018: sold its acreage in Libya for $450 million
• since 2013: has exited seven countries
• over the past two years, divestitures have raised $5 billion 

Disclaimer: this is not an investment site.

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Back to the Bakken

Another DUC: only one well comes off the confidential list today, and lo and behold, it's another DUC --

• 33392, SI/NC, Crescent Point, CPEUSC Paopao 6-35-26-158N-100W TFH, Dublin, no production data, 

Active rigs:

$72.48↓	7/6/2018	07/06/2017	07/06/2016	07/06/2015	07/06/2014
Active Rigs	66	57	31	76	191

RBN Energy: Permian natural gas prices ride constraint-driven volatility.