Solid July Jobs Report Points to Momentum in Q3

05 Agosto, 2018, 17:25 | Author: Arnold Perez
  • Solid July Jobs Report Points to Momentum in Q3

The only time in the recorded history the rate was lower was in the 1960s.

"Right now, concerns about tariffs are just that: concerns", said Michael Gapen, chief US economist at Barclays Plc in NY. Overall, the USA unemployment rate inched down to 3.9% in July, following an increase in June, with total employment increasing by 157,000 jobs.

In terms of the larger context, this morning's data points to 1.5 million jobs created so far in 2018, which is evidence of a healthy job market, and which is an improvement on the totals from the first seven months of 2016 and 2017.

Last month, Trump also saw a 4.1 percent GDP rate, the highest since 2014.

Average hourly earnings rose 0.3 percent from the previous month, also matching the median estimate of economists, though that was up from 0.1 percent in June.

"I don't see today's number as a disappointment: 157,000 job gains is still impressive, given where we are in the business cycle".

"House price appreciation has exceeded wage growth for six years, so any signal that wage growth may be closing the gap is good news", said Fleming.

More news: Sanders won't dispute claim that media is 'enemy' of people
More news: Asamblea Nacional aprobó normativa que pena acoso callejero — Francia
More news: Up to 20 feared dead in WWII vintage plane crash in Switzerland

Asian unemployment dropped to 3.1 percent while black unemployment, still hovering around historical lows, increased slightly to 6.6 percent.

The jobs figures follow second quarter data last week showing the United States economy grew at an annualised rate of 4.1%.

Yet the trade fights didn't appear to impact hiring last month.

The Federal Reserve's Beige Book report last month showed a scarcity of labour across a wide range of occupations, including highly skilled engineers, specialised construction and manufacturing workers, information technology professionals and truck drivers.

Mocuta added that the dip in the unemployment rate without any corresponding upward pressure on wages suggested more slack in the labor market than the unemployment rate might otherwise suggest.

Experts blamed some of the change on closing retail stores, but said the labor market remains tight, with more openings than jobs overall. In comparison, nondepositories employed 339,600 people 12 months earlier and had a downwardly revised 341,200 workers on their payrolls in May of this year. The solid rate of hiring reflects strong production, business confidence, and plans for expansion.

Hiring in the goods-producing sector rose by 52,000, in line with its strong recent trend, while job growth in the service-providing sector moderated to 118,000 from outsized 182,000 and 204,000 gains in June and May, respectively.

Recomendado:



Popular

El nuevo oficio del presidente Juan Manuel Santos: !Youtuber!
El video fue compartido este miércoles por Ospina en su canal de YouTube #HolaSoyDanny y ya tiene más de 238,000 reproducciones.

Corbyn tells Labour anti-Semites `you have no place in…
We are still trying to work out what (Mr Corbyn's office) is asking from us, whether it is a discussion, a statement or a speech. The group's chairman Gideon Falter said: "There is no acknowledgement of his own role in this crisis".

Indian among 3 foreigners abducted, killed in Afghanistan
The Malaysian national was 64 years old, while the Indian and Macedonian men were aged 39 and 37, respectively. Its clients range from the Royal Ascot Racecourse in England to the U.S.

Radio telescope near Penticton, B.C., opening new doors in astrophysics
Puzzling pulses like these are sometimes called fast radio bursts (FRBs ), because they may last just a few milliseconds. The FRB detected in this case, called FRB 180725A , is particularly unique because it had a frequency as low as 580 Mhz.

Suspect In Doctor's Killing Found Dead
For weeks, the crime simmered unsolved, drawing national headlines, for both Hausknecht's most famous former patient, George H.W. The employee found a wallet belonging to Pappas that had been thrown on the ground and contacted the Houston police.

Erdogan califica de "evangelista" y "sionista" lenguaje EEUU en caso Brunson
Brunson, que niega estas acusaciones, fue puesto bajo arresto domiciliario la semana pasada después de un año y medio de cárcel. Según EE.UU., los dos ministros contribuyeron a la detención del pastor estadounidense Andrew Brunson .

Apple Wins the Trillion Dollar Race!
Given the volatility of the stock market, however, it's possible that Apple will not remain at the $1 trillion mark in the coming days.

Scientists Successfully Transplant Lab-Grown Lungs Into Pigs
Because of this, many scientists have tried to create bioengineered lungs, although without notable success until now. The breakthrough paves the way for growing lungs to transplant into human patients in as little as five years.

Ola de calor en Portugal rompe récords #3Ago
Según Paula Leitao, del Instituto Portugués para Mares y Atmósfera (IPMA), la ola de calor alcanzaría máximos este sábado. La temperatura más alta registrada en Portugal es de 47.4 grados (117.3 Fahrenheit) en 2003.

Man United 'could offer Anthony Martial in exchange for Willian'
The forward also noted that while his family would always come first, he would return to Manchester on Thursday. Manchester United are reportedly trying to do a deal with Bayern.