AEI scholars offer their analysis of the June jobs report numbers.
Deputy Director of Economic Policy Studies Michael Strain:
Today’s jobs report was disappointing. The labor force shrank, labor force participation dropped, and nominal wages were flat over the month. The report indicates that considerable slack remains in the labor market, which will influence the Fed’s decision to raise interest rates. Prime-age employment has yet to recover fully from the Great Recession. Years later, much work remains to be done.
Resident Scholar Aparna Mathur:
Still big signs of labor market slack. Labor force participation rates declined; there are still 6.5 million involuntary part-time workers, and we have not seen not much progress on wage gains. Proposed overtime legislation may push us even further in the direction of cutting down on worker hours, which is a worry.
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