Published: Sun, July 08, 2018
Money | By Armando Alvarado

June Sees Employment Rates Increase 213000

June Sees Employment Rates Increase 213000

US unemployment rate ticked up to 4 percent in June from an 18-year low in the previous month, the Labor Department reported on Friday.

Jobs data from June shows that employers added 213,000 jobs in June.

Automakers added 12,000 jobs in June, but the tariffs could weigh on that industry's job growth in the coming months.

DePratto stressed he didn't see anything in the jobs report to deter Poloz from hiking the rate next week. This suggests renewed economic optimism among less-skilled or less-educated workers.

Economists had predicted 195,000 payroll gains amid a shortage of available workers to fill jobs.

According to the BLS report, titled "The Employment Situation-June 2018", total nonfarm employment increased by 213,000 in June.

The economy continues to show many signs of strength despite the brewing trade war.

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.

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What about tariffs? On Friday, the USA formally imposed an additional $34 million in tariffs on China. It had declined for three straight months.

Average hourly wage growth, which is closely watched by the Bank of Canada ahead of its rate decisions, remained firm last month at 3.6 per cent.

In spite of the strong job gains and widely voiced complaints from employers about difficulties in finding workers, wage growth does not appear to be accelerating. Trump has spoken about slapping tariffs on imported cars, trucks and auto parts, which General Motors has warned could hurt the USA auto industry and drive up vehicle prices.

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. Among the strongest industries for job growth during the month was manufacturing, which extended a surge in hiring by adding 36,000 jobs even with tariffs in place.

The increased participation combined with a lack of accelerating wage growth during June indicates a labor market that still has enough slack remaining to pull in new workers who had been disengaged from the workforce.

"Fortunately the economy has a good head of steam going into a period of significant uncertainty in terms of the impact of higher tariffs across a broad range of imports and exports", said Brian Bethune, chief economist at Alpha Economic Foresights in Boston. Over the past 12 months, this sector has gained 285,000 jobs, with about three-quarters of them involving durable goods such as metal products, computer parts and cars.

The EPOP for Hispanics rose 0.4 percentage points to 63.4 percent, a new high for the recovery, while their unemployment rate fell to 4.6 percent, the lowest on record.

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