U.S. unemployment rate ticks up to 4 pct in June

Economy adds 213K jobs in June unemployment ticks up to 4 percent

Employment growth was strong for a second consecutive month in June as the economy added 213,000 jobs despite worker shortages and mounting US trade tensions. With these revisions, employment gains in April and May combined were 37,000 more than previously reported.

Today's figures also showed that the U.S. unemployment rate rose to 4% from an 18-year low of 3.8% in May as more people entered the labour force in the sign of confidence in the jobs market.

Still, average hourly pay rose just 2.7 per cent in June from 12 months earlier, meaning that after adjusting for inflation, wages remain almost flat.

Nonetheless, the USA jobs market is incredibly hot right now with yesterday's NFIB jobs survey suggesting that in the small business sector, the proportion of firms looking to hire workers has been higher on only three occasions in the past 45 years. A widespread availability of jobs and the prospect of higher wages at other employers made it harder to retain workers, she said. The labor force participation rate is still hovering near historic lows.

Construction payrolls rose by 13,000 last month after rising by 29,000 jobs in May.

Private employment rose by 202,000 (median estimate 190,000) after increasing 239,000; government payrolls rose by 11,000, most since August.

"While the Hispanic-Latino unemployment rate had been as low as 4.8% in five months, four of those months were during the administration of President Donald Trump; the lone exception being October of 2006", writes CNS News.

More news: President Trump Pushing Saudi Arabia To Produce More Oil

Services sectors, meanwhile, lost 14,700 jobs mostly because of big decreases in accommodation and food services positions as well as wholesale and trade.

"As the labor market tightens we should see more businesses raisings wages, offering training, and hiring workers from all corners of the labor market", she added.

The labour force growth is likely to be welcomed by the Bank of Canada, which has been arguing that pockets of untapped market slack remain that could limit wage and price pressures.

The number of employed people in the workforce rose by 102,000, while the number of unemployed jumped by 499,000, suggesting more people entered the labour force and actively sought jobs. Before joining The Washington Post, she was a senior economics reporter at CNN and a columnist and deputy editor at the Patriot-News in Harrisburg, Pa. The department does not count people in the unemployment total unless they are actively seeking work.

The employment increase last month beat economist expectations for a 20,000 gain and was the second highest so far in a year where job creation has been sluggish. Nonetheless the EPOP for men is still 0.9 percentage points above its year-ago level, compared with 0.7 percentage points for women. The last time it was that low was in 1969.

Strong jobs growth continues at a time when the economy is growing 4%, and inflation is about to break 3%.

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