U.S. Jobs Report

A big jobs report comes out, and it shakes up the stock market. The S&P 500 and the Dow Jones both took a tumble after the US Labor Department issued their monthly statement on August employment numbers.

Economists were looking for a big jump in new jobs. Almost a quarter of a million. But that didn’t happen. In fact, new job growth missed the mark by almost FIFTY PERCENT. The slowed job growth is a big problem for the Federal Reserve. Every time a new jobs report comes out, that’s the one number they keep using to tell America how good the economy is.

While Janet Yellen keeps pointing toward new jobs created, many business owners and investors around the country keep looking at SLOWER WAGE growth as a big deterrent. The disappointing report hurt Wall Street too. Markets dipped way down right after the new report came out. Meanwhile, there’s a growing list of people out of work so long, they can’t even claim unemployment benefits.

In a similar report from the Fed, we’re learning that the richest 10 percent of Americans are the only group whose income grew over the last three years, widening the gap between the richest Americans and everyone else. Median yearly income among the top 10 percent rose by over 2 percent to over 223 thousand dollars. That was up from 218 thousand.

And in related news, a new survey by job and career website, Glassdoor, named the top 10 companies where high school grads are most likely to find prime career opportunities. Grocery warehouse giant, Costco topped the list. Scott Dobroksi from GlassDoor says workers shouldn’t be afraid to start out at an entry level job and move their way up. Several companies do have training programs, and with a little effort and perseverance, many high school graduates without college degrees are raking in a sizeable salary today. Whole Foods, Chipotle, Publics and Nordstrom are the other companies to make the top 5 places for high school grads to work.