Weekly Economic Update: August 7 – August 11, 2017
CHART OF THE WEEK
Growing Share of Americans Working in 2017
After stagnating in 2016, the employment-to-population ratio, which measures the percentage of people ages 16 and over who have a job, has grown strongly in 2017. For more details regarding the current labor market situation please refer to JEC’s July 2017 Jobs Review.
LAST WEEK
News & Commentary Weekly Highlights
Wall Street Journal: U.S. Hiring Maintains Strong Pace as Jobless Rate Falls to 16-Year Low
Tax Foundation: What Would “Unprecedented Capital Expensing” Look Like?
Wall Street Journal: U.S. Plans Trade Measures Against China
Economics21: A Workable Balanced Budget Amendment
Top Economic Indicator Highlights
Employment Situation July June May
Nonfarm payroll jobs 209,000 231,000 145,000
Headline unemployment rate (U-3) 4.3% 4.4% 4.3%
“True” unemployment rate (U-6) 8.6% 8.6% 8.4%
Noteworthy: The nonfarm payroll jobs number exceeded expectations for a second month. The employment-to-population ratio, the overall labor force participation rate, and the prime-age labor force participation rate all increased the last two months.
JEC Releases
Tiberi Statement on July Jobs Report
THIS WEEK
Upcoming Economic Data and Events
Monday
Consumer Credit (3:00pm)
Tuesday
Job Openings and Turnover Summary (JOLTS) (10:00am)
Wednesday
Productivity and Costs (8:30am)
Wholesale Trade (10:00am)
Thursday
Producer Price Index (8:30am)
Friday
Consumer Price Index (8:30am)
Real Earnings (8:30am)
Survey of Professional Forecasters (10:00am)