On Friday a great jobs report came out. The economy added 223,000 jobs in May and the unemployment rate is at 3.8%. This is the lowest rate in the last 18 years. Layoffs are also at a 50 year low. With the job market so strong and unemployment so low it almost seems imminent that wages should start to push higher.
With such a good jobs report coming out, it’s important to look under the hood at what contributed to this. This is the lowest unemployment rate for women since 1953. Also, we are starting to see a major statistical step up in that manufacturers are starting to hire high schoolers for summer employment. This further shows the growth in this specific industry.
The G7 summit will be coming up this week. The G7 is a group of the 7 largest and most advanced economies. This includes Canada, France, Germany, Italy, Japan, U.S., and the United Kingdom. This is intriguing in that the U.S. just imposed tariffs on everyone included in this group. Italy is currently in a populous revolt to leave the EU. The British are currently debating on ways to leave Germany, France and Italy. Also, Canada and the U.S. are in debates on whether NAFTA should continue. Japan seems to be the odd man out with relatively no internal drama.
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