Economy
August 12, 2019
Net Job Creation Through July 2019
Written by Peter Wright
The rate of job creation in the U.S. in 2019 is slowing, according to Steel Market Update’s analysis of the latest Bureau of Labor Statistics data.
Net job creation in July declined to 164,000 from a downwardly revised 193,000 in June. June was revised down by 31,000 and May down by 10,000. 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 help us understand the reality of the steel market.
