US adds a solid 213000 jobs; unemployment up to 4 pct

US adds a solid 213000 jobs; unemployment up to 4 pct”

Bureau of Labor Statistics data showed that the United States added 213,000 jobs, with additions across multiple sectors.

At the same time, the unemployment rate rose to 4 per cent from 3.8 per cent, the government said Friday, as more people began looking for a job and not all of them found one. The average hourly wage has increased by just 2.7 percent in the past year.

The job growth shows the labour market shrugging off worries about a slowdown triggered by trade fights or rising borrowing costs.

In a note to clients ahead of the report, Spencer Hill, an economist at Goldman Sachs, said he expected the unemployment rate will fall to 3.7% after being rounded down, a level that would send the headline unemployment rate to its lowest level since 1969.

"Combined with additional jobs and steady hours, payrolls are up by 5 percent since June 2017".

Canada's tight jobs market is beginning to bring more workers into the labour force, a trend that if sustained may moderate a recent pick up in wage pressures.

The broader USA economy appears sturdy. But retailers shed 21,600 jobs, with the losses concentrated at general merchandise stores.

Gross domestic product estimates for the April-June period are above a 4 per cent annualized rate, double the 2.0 per cent pace logged in the first quarter. The agency says more people were seeking job opportunities and that forced the rate up to 6%. Housing starts have climbed 11 percent so far this year.

Economists have warned the tit-for-tat import tariffs could disrupt the supply chain, undermine business investment and raise prices for consumers, and wipe out the stimulus from a $1.5 trillion tax cut package that came into effect in January.

The economy also faces a substantial threat from the trade tension with China and from other trade disputes with US allies, including Canada and Europe. Restaurants added 16,400 jobs in June, under the average of 18,400 over the year.

Not all of those who re-entered the market were able to find jobs, which contributed to the uptick in the unemployment rate.

Like this



07 July 2018
Northern white rhino 'could be saved from extinction'
They have a very high chance to establish a pregnancy once implanted into a surrogate mother", Hildebrandt said in a statement . The key question of whether scientists can produce pure northern white rhino embryos using this technique remains unanswered.

07 July 2018
Belgium knock out Brazil with stunning football World Cup win
Brazil will be without Casemiro, who is suspended after picking his second yellow card of the tournament. But as the referee started to seek a video review, Neymar appeared to urge against it.

07 July 2018
Tony Parker agrees to deal with Hornets, reports say
He's been with the Spurs for four of its five National Basketball Association championships and is a six-time All-Star. Tony Parker's time in San Antonio is over, after 17 seasons and four National Basketball Association championships.

07 July 2018
We Happy Few is no longer banned in Australia
The drug use appears to have been the sticking point in the Board's original decision to refuse the game for classification. In a statement released by Fiona Jolly, convenor of the Classification Review Board , the decision was made clear.

07 July 2018
Roger Federer won 35 straight service points in rousing Wimbledon win
The Czech seventh seed was a dominant, nearly unstoppable force on Centre Court as she dispatched Azarenka 6-3, 6-3 in 72 minutes. The ninth-seeded American had struggled in the opening set of her first-round match with Johanna Larsson, but roared back to win.

06 July 2018
Feds using DNA testing to reunite migrant families
Because children can't be in jail with their parents, more than 2,300 families caught by Border Patrol were separated. Republicans are divided among hardliners and business-oriented moderates who don't see immigration as a threat.

06 July 2018
Dutch Prime Minister Not Playing Trump's Game
Prime Minister Rutte responded with a very loud "NO!" when Trump made that remark, which shocked the President beyond recognition. President Trump then warned, "We're not planning anything now, but if they don't treat us properly, we will be doing something".

06 July 2018
Sharapova suffers stunning loss at Wimbledon
She double-faulted at 7-6 but held her nerve to knock off the next two points, finishing the match with an easy volley. That continued the kind of topsy-turvy tournament it's been so far, of a piece with the sunnier-than-normal weather.

06 July 2018
Keys out as Wimbledon seeds keep falling
Serena Williams , the seven-time Wimbledon victor , is seeded 25th after her tentative return from the birth of her first child. In a match full of big swings, Keys led 5-2 in the first set before Rodina won the next nine games to go 4-0 up in the second.

06 July 2018
Beryl becomes the first hurricane this season
Beryl strengthened into the first hurricane of the 2018 Atlantic Hurricane Season east of the Lesser Antilles early Friday. Forecasters say the storm will likely maintain its hurricane status as it approaches and crosses the islands.