Consumers Keep Spending--A Lot!

A key component of GDP in the US is consumer sales. The June report from the Census Bureau shows that consumers are doing a great job contr

The June Employment Data Have Something for Everyone

J: On July 6 the BLS gave us a ton of interesting data on "The Employment Situation-June 2018." For a start, they reported that the total number of people employed last month was a record 155,576,000. This is an increase from a year earlier of 2,326,000 people employed, or 1.5 percent. This happy outcome is shown in the chart below. For those people worrying that we could not possibly get enough people to re-enter the labor force to fill all the vacant job openings, the report showed some 601,000 people joined the labor force in June. In an editorial entitled, "Workers Emerge from the Woodwork," The Wall Street Journal called this fact "the big news" from the BLS report. The unemployme

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