The Economy Keeps Adding Jobs, But Filling Them Gets Harder

The Economy Keeps Adding Jobs, But Filling Them Gets Harder

Some of the sectors that contributed to the growth include manufacturing which powered the growth by adding 36,000 jobs.

"The underlying fundamentals have been strong for quite some time and while we were a little surprised by the uptick in the unemployment rate, it appears to be caused by additional workers entering the labor force, which is a positive", Bedikian said.

Average hourly earnings are expected to have increased by 0.3% month-on-month and 2.8% compared to June 2017.

The job growth shows the labour market shrugging off worries about a slowdown triggered by trade fights or rising borrowing costs.

In another sign of vigorous demand for labor, the results for April and May were revised higher by a total of 37,000, bringing the average for the past three months to 211,000. The U.S. central bank increased interest rates last month for the second time this year and has projected two more rate hikes by year end. The factory jobs were concentrated in the automobile industry, which had seen a decline in employment in May after a fire at a major parts supplier disrupted production. "It indicates that we have more labor market slack".

Job creation in the world's largest economy continued its brisk pace in June but the unemployment rate jumped as more people joined the hunt for employment, according to a government report Friday.

The report showed strength in the economy before a trade war started between the United States and China, which analysts warned could slow hiring, especially in the manufacturing sector. In spite of healthy job growth, wage growth is especially weak in manufacturing, rising just 1.7 percent over the a year ago. The rate is already below central bank estimates of levels sustainable in the long run, making it a potential source of upward pressure on wages and inflation.

Nonetheless, the U.S. 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.

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Economists polled by Reuters had forecast nonfarm payrolls increasing by 195,000 jobs last month and the unemployment rate steady at 3.8 percent.

Average hourly earnings rose by 5 cents, or 0.2%, to $26.98, lower than market expectations for a 0.3% improvement. This means that workers' wages will likely fall behind the rate of inflation, which in May reached 2.8 percent.

On Friday, the world witnessed the imposition of new tariffs by the U.S. and China on goods worth $34bn from each of the two countries.

Canada added 9,100 full-time jobs in June and 22,700 part-time positions, while work in the less-desirable category of self-employment rose by 22,000.

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. Prices for U.S. Treasuries rose.

Mara Fortin, who owns seven Nothing Bundt Cake stores in the San Diego area, said she raised pay last month to $13 an hour from $11.50.

The picture was brighter for the leisure and hospitality industry.

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