Economy
September 11, 2019
Net Job Creation Through August 2019
Written by Peter Wright
The rate of job creation in August slowed to 130,000 and was helped by the addition of 25,000 temporary Census workers, according to Steel Market Update’s analysis of the latest Bureau of Labor Statistics data.
Net job creation in August declined to 130,000 from a downwardly revised 159,000 in July. June was revised down by 15,000 and July down by 5,000. 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.
