Net Job Creation Through July 2018

The U.S. economy created 157,000 net jobs in July on a seasonally adjusted basis, down from 248,000 in June, according to Bureau of Labor Statistics (BLS) data released on Friday. This decline was partly mitigated by revisions to May and June, which improved by 24,000 and 4,000, respectively. Conditions remain very positive in the U.S. labor market, which is near full employment.

Rising employment and wages are the main contributor to GDP growth because personal consumption accounts for almost 70 percent of GDP. Steel consumption is related to GDP; therefore, this is one of the indicators that helps us understand the reality of the steel market.