June Sees Employment Rates Increase 213000

Donald Trump

The American Economy Added 213,000 Jobs in June The Associated Press 6 Jul 2018

But steady wage gains pointed to moderate inflation pressures that should keep the Federal Reserve on a path of gradual interest rate increases.

The Labor Department's monthly jobs report will be released at 8:30 a.m.

May's job gains were also revised up to 244,000 from 223,000, and job gains have now averaged 211,000 per month over the last three months.

Automakers added 12,000 jobs in June, but the tariffs could weigh on that industry's job growth in the coming months.

Many analysts read the higher jobless rate as an encouraging sign because the influx of almost 76,000 job seekers back into the labour market last month suggested more people are optimistic they can find work thanks to the hotter economy.

DePratto stressed he didn't see anything in the jobs report to deter Poloz from hiking the rate next week.

Job growth topped 200,000 for a second month in a row and averaged 215,000 for the first half of the year despite the worker shortages and trade worries. The labor force participation rate, or the number of people who are actively employed or looking for work, rose to 62.9% from 62.7%.

The data also shows a modest hourly compensation hike of 2.7 percent last month, compared to a year earlier.

BNN Bloomberg Commentator looks under the hood of the latest Canadian jobs report and explains how the underlying data reveals a less rosy picture for the economy than the headline numbers.

The dollar extended losses against the euro and the yen after the employment report.

Overall, U.S. employers added 213,000 jobs in June.

The long-in-the-tooth nature of the current boom cycle, generally rising interest rates and foreign trade conflicts are among the reasons investors have been leaving major stock market indices around the world in neutral this year.

Remaining slack in the job market could be keeping a lid on wage growth, said Cathy Barerra, chief economist at ZipRecruiter.

Businesses added 213,000 jobs to their payrolls in June, another strong month of gains.

In April, there were up to 6.7 million job openings in the United States; the number was more than the people who were unemployed but were seeking unemployment. Pay hikes haven't picked up as much as anticipated in light of the historically low jobless rate, but economists expect annual gains to reach 3 percent by the end of the year. Many estimates for growth in the second quarter are bouncing above 4 percent.

And yet hiring is expected to be strong for June. The U.S. and China slapped tit-for-tat duties on $34 billion worth of the other's imports on Friday. Retailers, however, cut 22,000 jobs as the sector continues to grapple with a shift from physical stores to online shopping. Manufacturing added a healthy 36,000 jobs in June. Professional and business services added 50,000, and leisure and hospitality 25,000.

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