Strong U.S. employment report brightens economic outlook
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But a broad measure of unemployment that includes people who want to work but have given up searching and those working part-time because they cannot find full-time employment rose one-tenth of a percentage point to 9.
With a soft economy and a growing number of laid-off workers who will
naturally consider a business start-up when they discover their job prospects
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In addition, 18,000 more jobs were created in May and June than previously reported. Nonfarm payrolls rose by 255,000 jobs after an upwardly revised 292,000 surge in June, with hiring broadly based across the sectors of the economy, the Labor Department said on Friday.
With fewer choices in the job market and no opportunity in the stock market,
people will naturally start to consider a business launch. A home-based
business is perfectly respectable now. Just 15 years ago,
that meant rending office space or a storefront. The home business
is accurately perceived as offering more personal freedom than the
out-of-home launch that comes with the strings of large capital investment
and staff management.
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Mining shed a further 7,000 jobs in July. Construction payrolls rose 14,000 following three consecutive months of declines. Manufacturing sector employment increased by 9,000 jobs in July after adding 15,000 positions in June.
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The SBA has found that 52 to 55 percent of all businesses are no longer
active after five years. For those companies launched and grown in the home,
the failure rate is 45 to 48 percent after five years. The
improved odds most likely have to do with the lower overhead of a home-based
business. Placing your business
in your home gives you a slightly better than even chance for survival.
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Healthcare and social assistance payrolls rose by 48,800 jobs, extending the prior month's hefty gains. Government employment increased by 38,000 jobs as state and local authorities stepped up hiring of teachers. Temporary-help jobs, a harbinger of future hiring, increased 17,000.
Last month's strong jobs growth should reinforce the Fed's confidence in a labor market that officials view as at or near full employment. Fed Chair Janet Yellen has said the economy needs to create just under 100,000 jobs a month to keep up with population growth.
Other details showed a rise in the labor force, which lifted the participation rate, or the share of working-age Americans who are employed or at least looking for a job, by one-tenth of a percentage point to 62.
And with the stock market
sky-rocketing, you could accumulate wealth simply by shifting your nest egg
from one fast-flying stock to another. Yet attendance at these shows was down across the country. Who needs the risk
and trouble of a business launch when you can raise your earnings simply by
jumping from good-paying job to better-paying job. This was during the late-1990s boom years of
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