5 important takeaways from the June jobs report

Enlarge this image

Employers added 213,000 jobs to the US workforce in June, the Labor Department said in its jobs report Friday.

May's figure is now being estimated higher by +37,000 vis à vis what was reported for May a month ago.

In June, the United States unemployment rate unexpectedly rose to 4% from 3.8% the month before, coming off an 18-year low.

"I think that we're seeing the front loading of the fiscal-stimulus impact, which we expected to boost growth this year", Julia Coronado, president of MacroPolicy Perspectives LLC in NY, said on Bloomberg Television. Nonetheless, at 6.6 million, the number of unemployed Americans could again be smaller than current job openings. The government sector added 11,000 jobs, mostly due to an increase of 13,000 jobs in local government.

"The key takeaway is the big jump in labor force participation", said Kevin Hassett, President Trump's top economist.

The unemployment rate moved up last month despite the addition of new jobs because almost 76,000 more people entered the workforce. Economists project that the GDP growth will maintain the yearly pace of 4% or even higher in the second quarter.

Did Vladimir Putin phone call inspire Russian Federation to beat Spain?
First Germany, then Lionel Messi's Argentina, followed by Cristiano Ronaldo's Portugal. "I think we should have countered faster". Andres Iniesta came on for Silva and Nacho was replaced by Dani Carvajal in another Spain switch with 20 minutes remaining.

Many experts have expected job gains to slow because the low employment rate is making it harder for firms to find workers. Meanwhile, the labor market seems to be ignoring all concerns raised concerning the new measures.

Analysts have been puzzled by the consistency of the modest gain in wages irrespective of the growth.

Canada's tight jobs market is beginning to bring more workers into the labour force, a trend that if sustained may moderate a recent pick up in wage pressures.

- US job growth increased more than expected in June as manufacturers stepped up hiring, but steady wage gains pointed to moderate inflation pressures that should keep the Federal Reserve on a path of gradual interest rate increases. Over the past three months, the economy has produced a robust average monthly job gain of 211,000. The retreat was because the continuation of strong employment prospects has caused a month-to-month uptick in the participation rate, to 62.9% from 62.7%.

At the same time, the latest report "probably places less pressure on the Fed to feel like they're behind the curve", Feroli said. "There are more people coming into the labor force", said Satyam Panday, senior economist at S&P Global Ratings.

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. By contrast, in the previous year the unemployment rate has fallen by 0.4 percentage points for workers with just a high school degree, by 0.5 percentage points for workers with some college or an associate degree, and a full percentage point for workers with less than a high school degree.

Related News:



Most liked

Moving wildfire kills 1 in California, forces evacuations
In the north, the fire in Siskyou County on the OR border had virtually emptied the tiny communities of Hilt and Hornbrook. With warm temperatures , windy conditions and potential for lightning, there's a chance of more fires in the coming days.

Zlatan Says Sweden Has ‘Big Chance’ To Win World Cup
Seven of England's nine goals in the tournament have come from dead-ball situations, a statistic not lost on Andersson. It's a quarterfinal, and a lot of emotions come into the game.

Read Scott Pruitt's Odd, Unapologetic Resignation Letter to Trump
Wheeler is a Butler County native and Case Western Reserve University graduate who formerly worked for Ohio GOP Sen. Now EPA Deputy Administrator Andrew Wheeler will fill in while the president finds a new leader for the agency.

Belgium's high scorers take on Brazil's miserly defence
One option could see Fernandinho come into the side for a role he is accustomed to playing at Manchester City . The victor will play France or Uruguay in the semifinals in St.

Male top seeds win at Wimbledon, Cilic out
Serena Williams , the seven-time Wimbledon victor , is seeded 25th after her tentative return from the birth of her first child. The Croat was stunned 3-6 1-6 6-4 7-6 (7-3) 7-5 by Argentina's world No.82 Guido Pella in three hours 12 minutes.

Kazianis on CNBC: The North Koreans "Don't Have any Intention of Denuclearizing".
Tensions have calmed significantly, culminating in Trump's meeting with North Korean leader Kim Jong Un in Singapore last month. In the weeks since, Trump has repeatedly claimed that North Korea has "blown up" multiple nuclear testing sites.

9 stabbed in 'evil,' unprovoked spree at apartment complex
In total, nine people were attacked, including six children, in the horrific incident at a Wylie Street apartment complex. The girl was flown to Salt Lake City for treatment, where she died, Boise police said Monday. "He is an American".

Portugal ousted by a Uruguay, superior version of themselves
Figo saw Ronaldo who had played in the national squad for 12 years to lead the team crown in Europe. Doctors inform that Cavani has already started rehabilitation and perform some exercise.

Brazil legend Ronaldo calls World Cup media criticism of Neymar diving 'nonsense'
Brazil is heading to the World Cup quarter-finals in Russian Federation after beating Mexico 2-0 in the round of 16 . "As a coach I have a lot of options with this team but I know in my head what I want to do".

Latest on Kawhi Leonard Trade, Devin Booker and More
Angara told CNN Sports Desk that with "King" James joining the Lakers , he expects the resurrection of the NBA's biggest rivalry. The San Antonio Spurs star has been tipped to move this summer after his relationship broke down with the franchise.

'It's all about business': Nadal blasts Wimbledon shot-clock plan
Dart, 21, took the No7 seed to a tie-break in their opening set before accelerating to a 4-1 lead in the second set. According to reports on US sports site ESPN , Uniqlo initially offered Federer $US21 million to wear its gear.

Here's how much LeBron James is already affecting Lakers' ticket demand
After years of struggling, the Lakers now have the best player in the world to lead their impressive young core. James and the Cavaliers have been beaten in three out of four NBA Finals against the Warriors since 2015.

Neymar believes critics of his Brazil theatrics are trying to 'undermine' him
Japan has now lost in the round of 16 three times and has never reached the World Cup quarterfinals. "It's obvious", Layun said. During the win over Costa Rica in the group stage, Neymar tried to win a penalty by flopping to the ground in the area.

Saudi king agrees to raise oil production, says US Trump
They also spoke about the efforts of producing countries to compensate for any potential shortage of supply, the statement said. Meanwhile, Iranian oil production is expected to fall from the fourth quarter of 2018 as USA sanctions take effect.

DeAndre Jordan, Mavericks Reportedly Verbally Agree to 1-Year, $24M Contract
He went from an unheralded second-round draft pick out of Texas A&M in 2009 to become one of the best big men in the league. Although his blocked shots dropped significantly last season, Jordan gives the Mavericks a rim presence they have coveted.