The Desperate Search for a Silver Lining In the June Jobs Numbers
Washington Post blogger Sarah Kliff tried to find a silver lining in the weak June jobs report. She pointed to the 0.1 hour increase in the length of the average workweek and the 6 cent increase in the average hourly wage. This is not much on which to hang your hat.
The length of the average workweek slips up or down by 0.1 hours pretty much at random. In fact it had fallen by 0.1 hour to 34.4 hours in May, after having been 35.5 hours for several months. This is hard to get very excited about.
The 6 cent rise in the average hourly wage is better news, however these numbers are very erratic and are subject to substantial revisions. (May’s number was revised up by 3 cents in the June data.) Over a longer period, there is not much here to boast about.