USA job growth strong but unemployment rate rises to 4%

A new study from the Human Resources Department suggests Ottawa is looking at ways to get people receiving employment insurance to move to other regions with more jobs

A new study from the Human Resources Department suggests Ottawa is looking at ways to get people receiving employment insurance to move to other regions with more jobs

The report also found that average hourly wage growth, which is closely watched by the Bank of Canada, remained strong last month at 3.6 per cent. But retailers cut 21,600 jobs last month, after boosting payrolls by 25,100 in May.

The report showed that Canada's trade surplus with the USA narrowed to $3.3 billion in May, from $3.7 billion April, as more imports headed north across the border and south-bound exports decreased.

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. Economists are forecasting that economic growth accelerated to an annual pace of roughly 4 percent during the April-June quarter, about double the previous quarter's pace. An acceleration of this rate would show that employers are indeed paying up for the skilled workers who they say are in decreasing supply.

Yet the tax cuts have done little to generate substantial pay growth.

Defense Partnership With Embraer Will Test Brazil's Boeing Appetite
Boeing will pay $3.8 billion for its stake in the venture - a valuation that prompted Embraer investors to look for the exits. The commercial venture will be run by a Brazil-based CEO and management team, while Muilenburg will have ultimate control.

Youth unemployment increased to 11.7 per cent last month, up from 11.1 in May.

Businesses hired robustly in June despite threats of trade tensions. Trump has also spoken about slapping tariffs on imported cars, trucks and auto parts, which General Motors has warned could hurt the US auto industry and drive up vehicle prices.

Major trade partners, including China, Canada, Mexico and the European Union, have retaliated with their own tariffs.

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

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