Job growth remains steady, but jobless rate ticks higher

Job growth remains steady, but jobless rate ticks higher

Job growth remains steady, but jobless rate ticks higher

This caused the unemployment rate to tick up to 4% from 3.8% even as employers added 213,000 jobs, and it's more evidence that faster growth is luring more people back into the workforce. The average hourly wage has increased by just 2.7 percent in the past year. The jobless rate in Calgary remained steady at 7.7 per cent. Some recent reports have suggested that businesses can't find qualified workers at the wages they're offering - but this report "did not have any evidence to back up those claims", said Elise Gould, a senior economist with the Economic Policy Institute.

In terms of the larger context, this morning's data points to 1.287 million jobs created so far in 2018, which is evidence of a healthy job market, and which is an improvement on the totals from the first six months of 2016 and 2017.

Payroll growth in May was revised up to 244,000 from 223,000 in yesterday's report.

As IJR previously reported, the economy saw many milestones during Trump's presidency. "This generates a rising standard of living and strong income growth". The U.S. and China slapped tit-for-tat duties on $34 billion worth of the other's imports on Friday.

They expect the manufacturing sector to bear the brunt of the trade fights, through a slowdown in hiring and capital expenditure.

The broader USA economy appears sturdy.

By industry, June was another strong month for the manufacturing sector, which added 36,000 jobs during the month after adding about half that number in May. The factory jobs were concentrated in the automobile sector, which had seen a decline in employment in May after a fire at a parts supplier disrupted production. There were increases in professional and business services employment as well as leisure and hospitality.

Major U.S. stock indexes were mostly higher Friday after the jobs report was issued, keeping the market on track for a weekly gain after two weeks of losses. But retailers shed 21,600 jobs, with the losses concentrated at general merchandise stores. That followed an increase of 5,000 jobs in May.

Noticias relacionadas

[an error occurred while processing the directive]