U.S. job growth underscores economy’s strength, tariffs a threat

US employers added 213,000 jobs in June, unemployment rate rose to 4%

According to a government report on Friday, the US labor market continued to power forward in June, adding another 200,000 jobs.

USA job growth increased more than expected in June as manufacturers stepped up hiring, new figures show today.

The unemployment rate jumped from 3.8%, the lowest since 2000, to 4% because more people joined the labor force to look for work.

A long run of impressive monthly job creation is among the main reasons why the projections of economists, in both the private and public sectors, have continued to be bullish for US growth, despite growing uncertainty about the rest of the global economy and the threat of a trade war.

The United States has increased jobs monthly for more than seven years, but some analysts suggest that the escalating trade disputes between the USA and its allies could threaten growth.

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.

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"This is a good job-creation number, but on the other hand we see still continued soft wage growth", said Michael Feroli, chief USA economist at JPMorgan Chase.

"The solid 213,000 gain in non-farm payrolls in June, which followed an even stronger 244,000 rise in May, illustrates that labor market conditions remain unusually strong", said Andrew Hunter, U.S. economist at Capital Economics.

But in fact more people entering the workforce is a sign of optimism that jobs are available in an economy now entering its 10th year of expansion.

The overall picture is again one of a strengthening labor market, but one that is still not tight enough to produce substantial wage growth.

The Labor Department said that average hourly earnings rose five cents, or 0.2% in June after increasing 0.3% in May. As such, job creation was well ahead of the 195,000 consensus forecast, so the report really underlines the strength of the U.S. economy right now.

Gross domestic product estimates for the April-June period are above a 4 percent annualized rate, double the 2.0 percent pace logged in the first quarter.

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

A steady pace of hiring and gradually rising wages, along with lower taxes, are helping underpin consumer spending and propelling a rebound in USA growth this quarter.

The unemployment rate in Windsor dipped slightly last month, but so too did the labour participation rate. A more encompassing measure of unemployment that includes discouraged workers and those at part-time jobs for economic reasons also rose two-tenths, to 7.8 percent.

Among industrial sub-sectors, the three standouts for jobs improvement in June were: "education and health services", +54,000; "professional and business services", +50,000; and in a long-time-coming and pleasantly-welcome development, "manufacturing", +36,000.

Washington is also engaged in fights with other major trade partners, including Canada, Mexico and the European Union after President Donald Trump imposed tariffs on steel and aluminum imports.

Automakers added 12,000 jobs in June, but adverse trade developments could deflate the gain.

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