Markets

USA job growth strong; unemployment rate rises to 4 per cent

USA job growth strong; unemployment rate rises to 4 per cent

Rather than being an omen of bad things to come, the rise suggests a positive outlook for the U.S. economy as it coincides with more than 600,000 people entering the labor force.

Economists had forecast that June would be another strong month for the US labor market, with nonfarm payrolls expected to have grown by 195,000 during the month with the unemployment rate expected to hold steady at an 18-year low of 3.8%, according to estimates compiled by Bloomberg. Some recent reports have suggested that businesses can't find qualified workers at the wages they're offering - but this report "did not have any evidence to back up those claims", said Elise Gould, a senior economist with the Economic Policy Institute.

Now back to the number you are seeing in today's headline - the 4 percent unemployment rate.

USA employers kept up a brisk hiring pace in June by adding 213,000 jobs in a sign of confidence despite the start of a potentially punishing trade war with China.

Manufacturers hired 36,000 workers in June, the most in six months, adding to the 19,000 jobs created in May. That kept the annual increase in average hourly earnings at 2.7%. But retailers cut 21,600 jobs last month, after boosting payrolls by 25,100 in May.




The June jobs is out and it's a beat.

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

As IJR previously reported, the economy saw many milestones during Trump's presidency. The agency says more people were seeking job opportunities and that forced the rate up to 6%.

The lack of wage growth is disappointing, but still higher than the rate of inflation, said Douglas Holtz-Eakin, president of the American Action Forum.

The economy also faces a substantial threat from the trade tension with China and from other trade disputes with USA allies, including Canada and Europe. On Thursday, Trump floated the prospect of imposing tariffs on more than $500 billion in Chinese imports.


  • United Nations  to discuss violence, refugees in southwest Syria

    United Nations to discuss violence, refugees in southwest Syria

    Malkawi said the United Nations was awaiting the "right time" to begin distributing aid in accordance with the world body's working principles.
    Male top seeds win at Wimbledon, Cilic out

    Male top seeds win at Wimbledon, Cilic out

    Kyrgios could next face lucky loser Bernard Tomic if his Australian compatriot can shock Japan's Kei Nishikori. Last year's beaten finalist was well in control before rain halted proceedings on Wednesday evening.
    Key Trump ally Scott Pruitt forced to resign

    Key Trump ally Scott Pruitt forced to resign

    Pruitt, who faced 14 investigations into his ethics and practices while at the EPA, resigned Thursday as head of the agency. With a past life as an energy industry lobbyist, Wheeler is not an environmentalist, to say the least.
  • Federer nearly perfect, gets win in straight sets

    Federer nearly perfect, gets win in straight sets

    The Czech seventh seed was a dominant, nearly unstoppable force on Centre Court as she dispatched Azarenka 6-3, 6-3 in 72 minutes. It has been only three days to the Wimbledon championships 2017 and there has been no shortage of entertainment.
    Petition for Colombia vs. England to be replayed gains almost  300,000 signatures

    Petition for Colombia vs. England to be replayed gains almost 300,000 signatures

    Andersson's squad regrouped, and impressively defeated Mexico 3-0 in their final group match to progress to the knockout stage. Gareth Southgate's men overcame Colombia in the last 16 to move into a quarterfinal clash against Sweden on Saturday.
    Trump imagines giving Warren DNA test in debate

    Trump imagines giving Warren DNA test in debate

    And he knows the audience is all patriots, otherwise they wouldn't be so deliriously happy to hear him. Jon Tester this fall, telling voters in a state he carried by 20 points that Mr.
  • Japan Executes Leader of Doomsday Cult

    Japan Executes Leader of Doomsday Cult

    Shoji said the seven deserved to be punished for the "despicable" attacks but "the death penalty is never the answer". At the same time, he warned lawyers they would die if they continued questioning Aum Shinrikyo members.
    Alan Dzagoev fit for Russia’s quarter-final against Croatia

    Alan Dzagoev fit for Russia’s quarter-final against Croatia

    However, while Croatia needed penalties to beat Denmark in the last round, they have come to Sochi full of confidence. And perhaps they are getting Belgium at the flawless time after their exhausting desperation match with Japan.
    Britain demands answers from Russian Federation  over second nerve agent poisoning

    Britain demands answers from Russian Federation over second nerve agent poisoning

    Britain has notified the global chemical weapons watchdog, the Organisation for the Prohibition of Chemical Weapons (OPCW). It was initially believed that the two patients had possibly been using drugs from a contaminated batch , police said.
  • Belgium dump Brazil out of World Cup with 2-1 win

    Belgium dump Brazil out of World Cup with 2-1 win

    Philippe Coutinho missed a great chance to draw his team level in the 83rd minute after being set up by Neymar . Cesc Fabregas aimed a swipe at Neymar after Belgium knocked Brazil out of the World Cup with a 2-1 victory.
    Tony Parker says he has no problem with Kawhi Leonard

    Tony Parker says he has no problem with Kawhi Leonard

    Parker wants to play at least 20 years in the National Basketball Association . "I have no problem with Kawhi Leonard ". Leonard is now seeking a trade after playing in only nine games last season because of his injured right quad.
    Joey Chestnut, Miki Sudo Win 2018 Nathan's Hot Dog Eating Contests

    Joey Chestnut, Miki Sudo Win 2018 Nathan's Hot Dog Eating Contests

    She first got into the world of competitive eating after her daughters entered her in a local eating contest. On the women's side, Miki Sudo ate a whopping 41 hot dogs in 2017, marking her fourth consecutive win .