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July jobs report ‘sluggish at best’

USA Today contributor Regina Lewis breaks down the week's Three Big Money Headlines.
/ Source: Weekends With Alex Witt

USA Today contributor Regina Lewis breaks down the week's Three Big Money Headlines.

The jobs numbers are “sluggish at best” with 162,000 jobs added with expectations between 185,000-200,000 new jobs, USA Today contributor Regina Lewis said on Weekends with Alex Witt.

“At this rate it will take seven more years to make up for the jobs lost,” she said.

Even though unemployment is down, the numbers are misleading because participation is down, Lewis added. However the 6,000 added manufacturing jobs is a bright spot in the report.

Auto sales have been showing their strongest number in years. Lewis said manufacturers have been citing the diverse selection of car models for consumers to choose from for the strong numbers. Detroit’s manufacturers are reporting increased sales to consumers: GM is up 51%, Ford is up 23%, Dodge is up 31%–there must be “something about a truck,” Lewis said.