gearing up for an historic trip to europe meant to strengthen american leadership overseas. after a week spend touting the administration s command of the economic situation here at home. yesterday the labor department announced 209,000 jobs were added in july. the white house touted he number as a sign of bidenomics inaction. alongside consumer-focused efforts to reduce jump fees and health care costs. and democrats and their allies are mobilizing in the wake of last week s rulings from the conservative dominated supreme court. with race based affirmative action band, legislators and lawyers are taking aim at so-called legacy admissions. we talk to one group suing harvard university for what some call affirmative action for the rich. in the meantime, it was a bloody-long independence weekend, as mass shootings rocked cities from coast to coast. kansas city mayor quentin once better law enforcement, but also tighter gun restrictions. he will join us shortly. and later you a
force which means maybe inflation pressures will ease a little bit. and i ll point this out, joe, and mika, the idea here, interest rates didn t move on this and neither did the expectations in the futures market for where interest rates will be by the end of the year. so, again, kind of like that goldilocks scenario. i mean, at least for this month, of course this is a month by month thing, but at least for this month, you look at everything from new jobs added, job participation rate, the wages going up, but not so high that it adds inflationary pressures on the economy. a lot of really good news in this report. and legendary tweeter duke st. journal said, i think this may be a few minutes ago, i think this may be what a soft landing looks like. if we were of course to continue to move into this direction, dom, i guess this would be what a soft landing that the fed is desperately trying to achieve would look like, right? this would be. and the reason why you have this s
there is some really good news. this is another example of consistent job growth. we know that wages are up, unemployment is down to around three and a half percent. and there are vacancies everywhere. we want to make sure that all the people, however, rather, get access to those jobs. when we passed the american rescue plan, it was in response to the pandemic to try to help cities, help employers, keep their doors open. and then with the infrastructure bill, putting people to work that was a jobs bill. good union jobs and also, rev, making sure that minority owned businesses get access to contracting. and then the inflation reduction act. more job creation. so we can t be surprised that this is happening. there is also some really good news in there to. there is a group of people within a certain demographic age group between 25 and 54 who may now have over 83% job
we ve been he s a hard money man. we ve been bumping along at mediocre growth the last couple quarters. but still growing and still a great job market. now we find out it was an even better job market than we thought. so i think the hope is that finally the fed will get out of the way and the real economy will continue to assert itself. the other great news in this job report, by the way, is that we re seeing even better numbers. we ve been talking about the great numbers and what s called the establishment survey of businesses. the household survey, they re even better. and the job creation there, much above the establishment survey. historically, that tells us we ve got good times to come. paul: the overall job participation rate, the labor participation rate has been going up 0.4 the last year where people thought it would go down 0.2 or 0.3 because of the baby boomers retiring. it is drawing people into the job market.
we ve been he s a hard money man. we ve been bumping along at mediocre growth the last couple quarters. but still growing and still a great job market. now we find out it was an even better job market than we thought. so i think the hope is that finally the fed will get out of the way and the real economy will continue to assert itself. the other great news in this job report, by the way, is that we re seeing even better numbers. we ve been talking about the great numbers and what s called the establishment survey of businesses. the household survey, they re even better. and the job creation there, much above the establishment survey. historically, that tells us we ve got good times to come. paul: the overall job participation rate, the labor participation rate has been going up 0.4 the last year where people thought it would go down 0.2 or 0.3 because of the baby boomers retiring. it is drawing people into the job market.