Labor Day

Just a brief note in honor of upcoming Labor Day. Today, in fact, the U.S. Bureau of Labor Statistics reported on the labor situation through August, and it contained some pretty good news about employment and unemployment. The proportion of the population who is employed, the "employment rate", increased to 63.1%, tying the highest rate since the 2001 recession was getting under way. Similarly, the unemployment rate eased to 4.7% from 4.8% in July, holding the low range of the last few months. The number unemployed fell by 86,000 to 7.1 million, down about 2 million from that recession's high.

Some press reports have bemoaned a perceived weakness in wages lately, but today's report showed that average weekly earnings are up 4.2% from a year ago. This is keeping up with inflation, which of course has been pushed hard recently by surging energy costs. Thus, workers are able to hold their own against those rising prices.

So things aren't too bad. It's not the boom times of the late 1990s, but it's a lot better for unemployment than any other time in the past 35 years. And the employment rate is far higher than even that late 1960s period, when fewer than 60% of working age people had jobs. We can also cite much broader opportunities for women and minority races.

Happy Labor Day!

* * * * *

Almighty God, you have so linked our lives one with another that all we do affects, for good or ill, all other lives: So guide us in the work we do, that we may do it not for self alone, but for the common good; and, as we seek a proper return for our own labor, make us mindful of the rightful aspirations of other workers, and arouse our concern for those who are out of work; through Jesus Christ our Lord, who lives and reigns with you and the Holy Spirit, one God, for ever and ever. Amen.

The Collect for Labor Day
The Book of Common Prayer