Unemployment Remained Well Shy of Common Experience;
U.3 at 4.3% in 2017 Is Not the Same as the 4.3% Circumstance in 2001

July 2017 Unemployment Rates Effectively Were Unchanged:
U.3 Eased to 4.35% (4.3497% Rounds to 4.3%) from 4.36% (Rounds to 4.4%),
U.6 Eased to 8.57% from 8.59%, and the ShadowStats-Alternate Held at 22.1%

Annual Payroll Growth Notched Lower to 1.50%, a
Level Common at the Onset of Recessions

Private Jobs Surveying Showed Renewed Collapse in July 2017

Headline Annual Growth in Inflation-Adjusted, Real Take-Home Pay,
Formally Per Capita Real Disposable Income, Revised Sharply Lower

Real Annual Growth in June 2017 Construction Spending
Turned Negative in a Manner Last Seen During the Housing Collapse of 2006

Shy of Recovering Its Pre-Recession Peak by 23.1% (-23.1%),
Real Construction Spending Has Shifted to Down-Trending from Low-Level Stagnation

Second-Quarter 2017 Real Merchandise Trade Deficit Widened versus First-Quarter;
Most-Recent Four Quarters of Real Deficit Were Worst Since 2007

Money Supply M3 Annual Growth Rose to 3.2% in July from 3.1% in June