United States jobs growth stronger than expected

United States jobs growth stronger than expected

United States jobs growth stronger than expected

The Bureau of Labor Statistics released a report Friday, showing 36,000 manufacturing jobs were created last month.

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

The report showed strength in the economy before a trade war started between the United States and China, which analysts warned could slow hiring, especially in the manufacturing sector.

Major trade partners, including China, Canada, Mexico and the European Union, have retaliated with their own tariffs. The unemployment rate edged up to 4 percent, but this was due to a reported surge of 601,000 people entering the labor force. The first, in dark blue, is the total number of unemployed workers, or the "headline" U3 unemployment rate.

The employment increase last month beat economist expectations for a 20,000 gain and was the second highest so far in a year where job creation has been sluggish. Wage growth remained sluggish, however, and was effectively erased by inflation: average hourly earnings rose just 0.2 percent to $26.98, putting wages up 2.7 percent over the same month past year, the same as the 2.7 percent rise in the Consumer Price Index.

Wages were a bit of a disappointment in Friday's report, with average hourly earnings rising by 0.2% over the prior month and 2.7% over the prior year. But with a record 6.7 million unfilled jobs in April, economists are confident that wage growth will accelerate later this year.

In spite of the strong job gains and widely voiced complaints from employers about difficulties in finding workers, wage growth does not appear to be accelerating. There's lots of room for this measure of labor market slack to improve, but it's no longer dramatically depressed like it was in the earlier part of the expansion.

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An global team of astronomers tested this question by studying three stars orbiting each other about 4,200 light years from Earth. That is a really precise track of where the neutron star has been and where it is going", Dr Archibald says.

"As the labor market tightens we should see more businesses raisings wages, offering training, and hiring workers from all corners of the labor market", she added.

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

The news in the household survey was mostly positive.

While the unemployment rate slightly increased in June, the number of employed Americans increased to a record high.

"Contacts expressed concern about the possible adverse effects of tariffs and other proposed trade restrictions", the Fed said in minutes published Thursday.

A broader measure of unemployment, which includes people who want to work but have given up searching and those working part-time because they can not find full-time employment, rose to 7.8 percent last month from a 17-year low of 7.6 percent in May. This was more than the 190,000 forecast by economists. "Unequivocally, this is a nightmare situation".

The job numbers for the month of June indicate US manufacturing continues to gain momentum.

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