Economy
October 5, 2018
Net Job Creation Through September 2018
Written by Peter Wright
The employment situation in the United States is excellent and continues to improve.
Rising employment and wages are the main contributors 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. Net job creation in September as reported by the Bureau of Labor Statistics (BLS) on Friday was 134,000, which was almost exactly half the August increase. This deterioration was partly due to August being revised up by 69,000. In addition, July was revised up by 18,000.
