US job growth remains strong; wage growth still weak

US job growth remains strong; wage growth still weak

US job growth remains strong; wage growth still weak

Bureau of Labor Statistics data showed that the United States added 213,000 jobs, with additions across multiple sectors.

The goods-producing sector added 46,600 positions in June thanks to job-creation boosts in construction, natural resources and manufacturing.

The unemployment rate ticked up to 4% from 3.8%, but this was because more people entered the labour force looking for work.

The Labor Department said that average hourly earnings rose five cents, or 0.2% in June after increasing 0.3% in May.

"A higher unemployment rate coinciding with a strong jobs gain in June is the best of possible worlds for Canada, with more of us working, but perhaps a bit more room for that to continue without triggering an inflation spike", Avery Shenfeld, chief economist at CIBC Capital Markets, wrote in a note to clients.




President Donald Trump and Republicans are running on a growing economy going into the 2018 midterm elections, especially since Trump signed the Republican tax reform plan into law at the end of 2017.

Still, if the additional jobs and that sort of wage growth don't make you smile, the rising unemployment rate should. But for now the sector, which accounts for about 12 per cent of the US economy, appears in good health. Economists are forecasting that economic growth accelerated to an annual pace of roughly 4 per cent during the April-June quarter, about double the previous quarter's pace.

The previous record was 4.8% back in 1973.

Businesses hired robustly in June despite threats of trade tensions.

Rose warned the city's unemployment rate could be slower to drop in the coming months because Edmontonians who were too discouraged to previously search for employment were more likely to resume that search. Any escalation in the conflict with China could disrupt hiring as companies grapple with higher import prices and diminished demand for their exports. 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.

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