No. 547: July Employment and Unemployment, M3, June Construction

(SGS Subscription required) • July Jobs Gain and Unemployment Decline Were Not Meaningful
• Payroll Boost of 162,000 was 136,000 Net of Revisions
• July Unemployment: 7.4% (U.3), 14.0% (U.6), 23.3% (ShadowStats)
• Construction Spending Remained Stagnant
• Annual M3 Growth Picked Up Slightly

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