United States economy creates more jobs than expected in June
Jul 08, 2017, 00:19
US employers added a robust 222,000 jobs in June, the most in four months, a reassuring sign that businesses may be confident enough to keep hiring despite a slow-growing economy. However, the unemployment rate ticked up slightly - 4.4 percent in June compared to 4.3 percent in May. The average workweek for all employees on private nonfarm payrolls rose by 0.1 hour to 34.5 hours in June.
Chief economist for the global information company, IHS, Nariman Behravesh says wage growth will probably pick up over the next year as the economy gains between 150 and 180 thousand jobs a month.
"There's an opportunity for more people to come back into the labor force", Samana said, adding that improvements to the participation and underemployment rates would indicate broader strength. "While we may see the Fed trimming its balance sheet later this year, another rate hike is looking less likely".
"While the unemployment rates for workers of colour remain far higher than for white non-Hispanic workers, the black unemployment rate has been falling faster than overall unemployment over the previous year", she said in a statement. The veteran unemployment rate is based on a much smaller sample size in the agency's Current Population Survey than is the overall rate.
"After last month's surge in jobs activity, small-business owners seem to be in a holding pattern while they wait to see what Congress will do with taxes and healthcare", NFIB President and CEO Juanita Duggan said.
The good news was tempered a bit by other factors: A slight uptick in the unemployment rate, a mere 2.5% increase in the hourly pay rate, and job cuts in the auto industry.
The Federal Reserve monitors the barometers of wage growth for any evidence that inflation might be starting to pick up.
A total of 1.6 million people were marginally attached to the labor force in June, a figure that was down by 197,000 from a year earlier.
The economy lost 400,000 jobs during the first five months of Bush's tenure, in 2001, but the country was falling into a recession then.
Economists forecast the economy grew at roughly a 2.5 percent pace in the April-June quarter. Over the past three months, job gains have averaged 194,000 a month.
"Respectable, perhaps", Gary Schlossberg, senior economist at Wells Capital Management in San Francisco, said of the recent jobs numbers. But the ranks of the long-term unemployed edged up by 1,000 to 1.7 million.
Tennis legend Venus Williams has been blamed for a fatal vehicle crash that claimed the life of a 78-year-old man in Florida. According to TMZ , there is no evidence Williams was driving under the influence of drugs or alcohol, or driving distracted.
The Senate will also peruse a spending plan involving $36 billion dollars of funds which was approved by the House. It's a repeat of the failed policies that created this financial crisis and caused jobs and taxpayers to flee.
Google chose to give preference to Google Shopping offerings in search engine results to gain traction with customers. Her move against Google risks attracting further criticism that she's unfairly singled out USA companies.
In a tearful video message , his wife, Liu Xia, suggested that treatment was either no longer possible, or simply not on offer. Shortly after the award, Mr Liu's wife, Liu Xia , was placed under house arrest , isolated from family and supporters.
A tropical wave located about 500 miles southwest of the Cabo Verde Islands is now producing a large area of cloudiness. Forecasters are calling for sunny skies and temperatures in the 80s on Sunday throughout the mid-valley.
Johnson previously urged Republican senators to slow the effort to bring the bill up for a vote as soon as this week. McConnell is expected to offer other changes to his proposal as he seeks to nail down support for the package.
Using the app, you'll be able to send invites via social media networks and messaging services which actually sounds interesting. This feature can allow the users of the app to invite their other friends to participate in the matches that are held online.
The 12-mile line is the internationally recognized distance that separates the shores of a sovereign nation from worldwide waters. The aircraft carrier USS Carl Vinson, flanked by South Korean destroyers, with the USS Stethem , at the rear in May.
It is created to launch space station components, deep-space probes as well as communications satellites. A Long March 3B rocket launched the Chinasat-9A satellite into geostationary transfer orbit June 19.
DUP backs deal to support minority Tory government
Trevor Lockhart, vice-chairman of CBI Northern Ireland, said: "There is much in this agreement that businesses will welcome". For any other parliamentary votes, the DUP - which has 10 MPs - said its support would be given on a case-by-case basis.