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Job Gains Accelerated Last Spring

From March 2018 to June 2018, gross job gains from opening and expanding private-sector establishments…

  • February 18, 2019

From March 2018 to June 2018, gross job gains from opening and expanding private-sector establishments were 7.6 million, an increase of 233,000 jobs from the previous quarter, the U.S. Bureau of Labor Statistics reports.

If you’re wondering why we’re only hearing about this now, you’re not alone. Basically, it takes months to settle on the most accurate data. We get headline job gain information early each month, for the previous month. This data is then updated in following months – often quite dramatically.

Over the March 2018 to June 2018 period, gross job losses from closing and contracting private-sector establishments were 7.2 million, an increase of 536,000 jobs from the previous quarter.

The difference between the number of gross job gains and the number of gross job losses yielded a net employment gain of 437,000 jobs in the private sector during the second quarter of 2018.

Will we do as well this spring? There are headwinds in the economy: tariffs are really starting to take a bite. Higher interest rates are having an effect. Also, this recent government shutdown will not help.

We’ve seen recent declines in consumer confidence, business confidence and several key leading indicators.

Still, job production has been strong going into 2019. We’ll soon see some fresh data for January. Keep in mind, though, that the long government shutdown has an effect on data collection. Of all the reports this year, the January jobs report from the Labor Department will be the most likely to see revision in the months ahead.

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