U.S. adds 213,000 jobs in June, unemployment rate jumps…

The U.S. economy added 213,000 jobs in June, as unemployment rose to 4 percent

The participation rate, or share of working-age people in the labor force, increased to 62.9 per cent from 62.7 per cent the prior month.

The unemployment rate rose to 4 percent, the Labor Department said June 6.

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.

Job openings are at record highs, meaning numerous job seekers are likely to find employment soon.

"This report was more than enough to seal the deal on a July rate hike from the Bank of Canada", said Frances Donald, a senior economist with Manulife Asset Management. "It indicates that we have more labor market slack".

Market participants are expecting that the central bank will raise rates again in September and then hike in December. The number, however, did come down from its nine-year high in May of 3.9 per cent.

Croatia beat Russian Federation on penalties to reach semis
It set the tone as Croatia became the first team since Argentina in 1990 to win consecutive World Cup games on penalties. It's the first time we're in the quarter finals in a very long time .

Yet the monthly figures landed the same day as President Donald Trump intensified a global trade war with USA levies on US$34 billion (RM137.36 billion) of Chinese goods, spurring retaliatory tariffs.

The economy added 213,000 jobs in June and BLS also revised up employment growth for April (159,000 to 175,000) and May (223,000 to 244,000) expanding the number of employed by 2.4 million over the past year.

Compared with a year earlier, overall employment was up 1.2 per cent following the creation of 214,900 jobs, which was driven by 284,100 new full-time positions. The department does not count people in the unemployment total unless they are actively seeking work. For the construction sector on its own, the average hourly and weekly gains, as recorded in B-3, were a bit faster, at +2.9% and +3.5% respectively. But with a record 6.7 million unfilled jobs in April, economists are confident that wage growth will accelerate later this year.

The employment-population ratio, another broad measure of labor- market health, was unchanged at 60.4 percent.

"It remains to be seen if a rebound in the private sector will occur given growing trade uncertainties". Since reaching a recent low in October 2016, the industry has added 95,000 jobs. Hourly wages for private, non-farm jobs in the USA increased by five cents to $26.98 per hour, according to the preliminary BLS data issued Friday.

With such an outlook, the Federal Reserve would most likely shy away from any abrupt funds rate increase, which would benefit markets that rise when bond rates are low. "This is exactly what we wanted to see: marginalized Americans coming back into the labor force".

Wimbledon: Kyle Edmund responds to cheating claims after Novak Djokovic defeat
Djokovic and Edmund took to the court just minutes after England had booked their place in the World Cup semi-finals. I expected them to support Kyle, obviously.

"As good trade deals start to roll in, people start to understand how good this is for the economy", Hassett said Friday.

The May numbers show that imports expanded 1.7 per cent, while exports dipped 0.1 per cent.

A worker cuts a piece from a steel coil at the Novolipetsk Steel PAO steel mill in Farrell, Pennsylvania, U.S., March 9, 2018.

And within durable goods, hiring was most intense in "motor vehicles and parts", +12,000; "fabricated metal products", +7,000; and "computer and electronic products", +5,000.

But the Trump administration's "America First" trade policy, which has tipped the United States into a trade war with China poses a risk to the labor market and economy.

'Nothing fazes me', says Pickford after helping England book semi-final spot
But despite having a prior arrangement, some of the more lucky invitees did manage to catch the game one way or another. His goal was coming as he has been the main target of England set pieces.

Related News:



Most liked

Trump Zeros in on Supreme Court Pick
Republicans also said Kavanaugh enabled the supreme court ruling that saved the Affordable Care Act's individual mandate. But the second time around, Murkowski could prove to be more hard for the White House to get a solid yes.

First two of Thai soccer team rescued from cave, official says
He said the operation began at 10 a.m., and it will take at least 11 hours for the first person to be taken out of the cave. Heavy monsoon rains are about to fall over the lush mountain range that houses the cave, adding urgency to the rescue.

U.S. job growth underscores economy’s strength, tariffs a threat
The unemployment rate jumped from 3.8%, the lowest since 2000, to 4% because more people joined the labor force to look for work. The Labor Department said that average hourly earnings rose five cents, or 0.2% in June after increasing 0.3% in May.

Victor Lindelof: I've learnt a lot from Jose Mourinho
Manchester United have dropped a major hint which suggests Anthony Martial could be staying at Old Trafford this summer. Tottenham, Chelsea and Juventus have all been linked with a move for Martial, but the forward is yet to make a move.

The 5 things we know about the 2019 Suzuki Jimny
We're still waiting for United Kingdom market information specifically, however it won't arrive on sale in Britain until 2019. The vehicle can be operated in 2H front-wheel-drive mode most of the time, maximising fuel economy.

Waltham native Thomas Hardiman still among Trump's Supreme Court finalists
Erwin, a friend and veteran of the wars in Iraq and Afghanistan who founded a nonprofit seeking to help other veterans. While Abraham was a founder of the conservative Federalist Society, he was also pro-immigration and an Arab-American .

England vs India 2018, 2nd T20I: Hits and misses
Hales was included in the side in place of injured all-rounder Ben Stokes, but on current form, it will be tough to leave him out. Watch the third T20 global between England and India , live on Sky Sports Cricket from 1.30pm on Sunday.

Mark Zuckerberg tops Buffett to become world's third-richest man
The "Oracle of Omaha" has donated about 290 million Class B shares, which are now worth more than $50 billion, Bloomberg noted. Zuckerberg and his wife, Priscilla Chan, have pledged to give away 99 percent of their Facebook stock over their lifetimes.

Two US Navy warships sail through Taiwan Strait
Washington has no formal ties with Taiwan but is bound by law to help it defend itself and is the island's main source of arms. The last time a USA aircraft carrier transited the Taiwan Strait was in 2007, during the administration of George W.

The EP Rejected the Controversial Copyright Directive
Moreover, tracking the progress of the directive has proved hard since it was first proposed in September 2016, with the draft subject to multiple changes and revisions.

Zlatan Ibrahimovic loses England-Sweden bet to David Beckham
Ironically, the goal didn't come from any elaborate or stylish passage of play to stretch Sweden out of shape between the lines. That record speaks for itself. "They were better than we were and I have the greatest respect and congratulations to England ".

Putin invites Team Russia players, head coach to discuss World Cup results
Italy was the last team to do so, with comeback wins against Mexico and West Germany in the 1970 quarters and semis respectively. The hosts qualified for the last eight after a dramatic penalty shoot-out victory over former world champions, Spain.

Belgium holds off Brazil’s comeback effort to reach World Cup semifinals
Belgium's captain was everywhere, winning the ball back high up the pitch, creating chances and gliding past defenders at will. The midfielder should have scored his second to equalize but fired narrowly wide after bursting through on goal.

Brock Lesnar and Daniel Cormier get into scuffle at UFC 226
However, the eagerly-anticipated bout was scrapped on Wednesday night as Holloway was suffering from concussion-like symptoms. Lewis returns to action after scoring an impressive third-round TKO victory over Marcin Tybura at UFC Fight Night 126.

Hsieh Su-Wei beats No. 1 Simona Halep at Wimbledon
Bencic, now at 56 in the world, next faces two-time Grand Slam champion Angelique Kerber who swept past Naomi Osaka of Japan. For the first time in Wimbledon history, none of the top five women's seeds reached the round of 16.