Here it is again. It may be a little late- what can I say, a 40 person family reunion and my first wedding anniversary took precedence this month! But, as the saying goes, better late than never.
Keeping an eye on the economy can be a daunting task. Something that helps me to understand month-over-month trends is the monthly Economic Update and Jobs Report.
I’ve attached a quick and easy to understand review of August’s report here: Economic Update (August 2017)
Below are some highlights as well.
August’s Economic Update:
- Q2 2017 GDP: 2.6%
- Unemployment Rate: 4.3% (decreased 0.1%)**
- Nonfarm Payroll: +209,000 Jobs
**The new unemployment rate tied the lowest unemployment rate in 16 years!
Nonfarm Payroll Revisions:
- May was revised down from +152,000 to +145,000
- June was revised up from +222,000 to +231,000
Combined these revisions were 2,000 more than previously reported.
Over the past 3 months, job gains have averaged 195,000 per month.
I hope this helps!