Economy
November 7, 2018
Net Job Creation Through October 2018
Written by Peter Wright
The employment situation in the United States is excellent and continues to improve, according to Steel Market Update’s latest analysis of Bureau of Labor Statistics (BLS) data.
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. Net job creation in October as reported by the BLS on Friday was 250,000. September was revised down by 16,000 and August revised up by the same number.
