US employers added a robust 222,000 jobs in June, the most in four months, a reassuring sign that businesses are confident enough to keep hiring despite a slow-growing economy.
As the labor market has full employment, the pace of job growth is expected to slow. Part-time employment has been a persistent problem since the recession ended.
Unemployment rose for a good reason: More people jumped back into the job market to look for work. The construction sector added 16,000 jobs, and the unemployment rate increased from 4.3% to 4.4%. And the nation's unemployment rate remained relatively steady at 4.4 percent, down about 0.4 percent from what it was in January.
Yet the influx of job seekers last month might have offset some upward wage pressures. For instance, employment in professional and business services continued to trend up in June (by 35,000) and has grown by 624,000 over the last 12 months.
The report also revised May's comparatively sombre report higher, which put average job creation over the last three months at 194,000 - just above the average monthly level recorded in 2016. Patrick Conway told InsideSources. This brings average payroll employment growth to 180,000 in 2017 so far.
U.S. adds 222K jobs in June
With the modest increase, the unemployment rate crept up off the sixteen-year low set in the previous month. "The overall rate can go up a bit from here".
Retail hiring, once a strong driver of employment growth, is suffering from online competition. Barbera adds robust growth is unlikely since groups like student adults and retirees can account for most workforce dropouts. Among women between ages 25 and 54 - "prime age" workers - participation has risen over the last two years. James Tierney told InsideSources.
The labor force participation rate has at least bottomed out from its almost decade-old free fall. "It could reflect increased confidence in the labor market". "It's not just where you are, but how you got there". Finally, there simply isn't anything in the current economic picture that points to an explosion in growth anytime in the near future. This is below the targeted growth rate of 3.5 percent. The four-week moving average, in this case, rose from 1.938 million to 1.945 million. "Or you can make the case that we should try to do things that allow the jobs that are here to be higher paying, better jobs".
Economists surveyed by The Wall Street Journal had expected 174,000 new jobs and a 4.3% unemployment rate in June. The low unemployment rate now has not had the same impact.
Financial experts say wages will take center stage in Friday's report. "Wage growth may resume accelerating later in the year".
Underemployment, which measures people who want to be working full-time but are not, rose to 8.6% in June from 8.4% in May. In May, there were 6,861,000 who were unemployed and in June that number grew to 6,977,000.
New Overwatch Blog Post From Blizzard Teases Doomfist
When Overwatch introduced its 24th hero, the robot Orisa, they first teased it with a cryptic article posted on February 21. However, it remains unclear whether the new Doomfist is a hero or a villain until Blizzard officially reveals the character.