Friday, 16 November, 2018

USA jobs growth stronger than expected

Russell Knight | 08 July, 2018, 16:54

According to new numbers out Friday, the US economy added an additional 213,000 jobs in June.

Private employers expanded their payrolls for the 93rd consecutive month in June, by 213,000 jobs, the Department of Labor's employment situation report showed yesterday.

In its report July 6, the government revised up its estimate of job growth in May and April by a combined 37,000.

Many analysts read the higher jobless rate as an encouraging sign because the influx of almost 76,000 job seekers back into the labour market last month suggested more people are optimistic they can find work thanks to the hotter economy. Just hours before the monthly jobs report was released, the Trump administration imposed taxes on $34 billion in Chinese imports, and Beijing hit back with tariffs on the same amount of US goods.

On the same day that the Trump administration began imposing tariffs on $34 billion in Chinese imports and China retaliated with their own tariffs, the job gain showed that the 9-year old USA economic expansion - the second-longest on record - remains on solid ground for the moment.

"There were some people who weren't participating in the labor force who are now being encouraged to return, so I'm not concerned about the uptick in unemployment", she said.

Businesses added 213,000 jobs to their payrolls in June, another strong month of gains. Average hourly earnings increased by 0.2% month-on-month and 2.7% year-on-year, weaker than economists had forecast. Instead of accelerating, as many had hoped, annual wage growth fell slightly, to 2.7 percent from 2.8 percent.

The moderate wage growth should allay fears of a strong build-up in inflation pressures. The Fed's preferred inflation measure hit its 2% target in May for the first time in six years.

Apple Music Is The Number One Music Streaming Service In The USA
For years, Spotify has been the number one service for paid subscribers who choose to listen to music that they pick themselves. Three years after making its debut, it is being reported that Apple Music has surpassed Spotify's paid USA subscriber count.

UFC 226 Results: Daniel Cormier Makes History Knocking Out Stipe Miocic
The second victory last summer was changed to a no-contest when Jones failed a doping test, and he remains out of the sport. Lesnar came out to witness first hand the fight for the UFC heavyweight title between Daniel Cormier and Stipe Miocic.

Vettel fastest in second British GP practice
Canadian Lance Stroll lost control on his very first flying lap, spinning at Brooklands, and ending up beached in the gravel. Williams has only four points this season and Harris acknowledged on Friday she had been "dreading" the team's home race.

The United States has increased jobs monthly for more than seven years, but some analysts suggest that the escalating trade disputes between the USA and its allies could threaten growth.

The dollar extended losses against the euro and the yen after the employment report. Prices for longer-dated U.S. Treasuries rose. The drop in yields is making the U.S. Dollar a less attractive investment.

Amid news of May's record-low unemployment rate, House Minority Leader Nancy Pelosi (D-Calif.) shifted attention to allegedly stagnant wage growth under Trump. The magic of rounding off decimal points (from 3.75 percent in May up to 3.8 percent; and from 4.05 percent in June down to 4.0 percent) made the increase in the jobless rate look smaller than it actually was. And as executives say they can not find enough qualified workers, many are turning to hiring people who are now incarcerated or people with disabilities.

While economists say the tax cuts are boosting growth this year, they warn that Trump's actions on trade could have damaging impacts on the economy and jobs. Given the flood of new workers, not all who got jobs pushed the unemployment rate up to 4% from 3.8%. Traders said the report was more encouraging than discouraging in the wake of an escalating trade war between the US and China. Levies on $34 billion in Chinese goods took effect at 12:01 a.m. Friday. The United States is now in a trade war with all its top five trading partners: China, Canada, Mexico, the European Union and Japan.

They expect the manufacturing sector to bear the brunt of the trade fights, through a slowdown in hiring and capital expenditure.

Mining employment continues to trend upward as the USA adds thousands of jobs in June.

Construction added 13,000 jobs, while retail lost 22,000 - nearly all the jobs it had gained the month before. The increase is the same for both overall employment and production and nonsupervisory workers.

Recommended

  • England's wonderful  World Cup hunt alive and kicking

    England's wonderful World Cup hunt alive and kicking

    Performing the moves IRL has become quite the trends, and seeing them outside of the game is a real hoot. Defender Harry Maguire gave his squad a 1-0 lead in the 30th minute and England never looked back.
    Russia 2018, Quarter-finals

    Russia 2018, Quarter-finals

    Modric said Subasic told him that the injury should not be a major factor as Croatia prepare for their semifinal. This media house does not correct any spelling or grammatical error within press releases and commentaries.
    ‘Very productive talks with N. Korea’

    ‘Very productive talks with N. Korea’

    Some U.S. experts said the disputes highlight the risk of Trump granting premature concessions to North Korea. Secretary of State Mike Pompeo meets Japan's Prime Minister Shinzo Abe in Tokyo, Japan, July 8, 2018.
  • 'Borat' Filmmaker May Be Targeting President Trump with His New Project

    'Borat' Filmmaker May Be Targeting President Trump with His New Project

    "Like most of America, I have been following the matter regarding Michael Cohen with great interest", Davis said in a statement. Davis was special counsel for Clinton from 1996 to 1998 during campaign finance investigations.
    Father kills teen children in Australia murder

    Father kills teen children in Australia murder

    Det Supt Brett McFadden said two " powerful " handguns registered in Edwards' name were discovered at the Normanhurst house. He told reporters the attack was a "very harrowing experience for those initial responding emergency service providers".

    UFC 226: Daniel Cormier ends Stipe Miocic's reign with a knockout

    For all the talk about champion-vs. -champion bouts over the years in the UFC, their actual history is just two chapters long. And if you're a BT subscriber but are out of the United Kingdom at the moment, then you can always use a VPN to tune in .
  • Rory McIlroy in no 'panic' to add to four majors - Irish Open

    Rory McIlroy in no 'panic' to add to four majors - Irish Open

    I just haven't been good enough in dealing with what goes on with playing the Irish Open . I played my first major there 11 years ago. You can't put it in bunkers off the tee.
    Pompeo: Sanctions to remain until N. Korea 'final' denuclearization

    Pompeo: Sanctions to remain until N. Korea 'final' denuclearization

    A meeting will take place between a team from the Pentagon and North Korea at the South-North border next week, Pompeo explained. It contradicted statements made earlier by Pompeo, who signaled the visit made " progress on nearly all of the central issues".

    Wimbledon 2018 -- No. 1 Simona Halep loses in third round at Wimbledon

    I think because I was exhausted , because I'm exhausted , I couldn't stay focused for every ball", Halep said. But the Serb managed to refocus after a lengthy complaint to umpire Jake Garner. "It was an important point".
  • Pikachu gets

    Pikachu gets "summer style" variant to celebrate Pokemon Go’s birthday

    Trainers possessing a gold Pikachu medal will be able to purchase all related items, including a T-shirt and Pikachu ears. Niantic didn't give an exact release date for Celebi, but we'll be keeping an eye out for more specifics going forward.
    Suns sign Booker to $158 million deal

    Suns sign Booker to $158 million deal

    Booker, 21, said he was "humbled and honored" to make a long-term commitment to the Suns. This is just the first of what should be many battles between Ayton and Bagley as pros.
    Federer shows off ‘Sneak Attack By Roger’ party piece in Wimbledon cruise

    Federer shows off ‘Sneak Attack By Roger’ party piece in Wimbledon cruise

    Roger Federer was excited to pull out his SABR return to liven up a straightforward third-round victory over Jan-Lennard Struff. Zverev also erased a 2-1 deficit three times to reach the quarterfinals of the French Open, his best result at a Grand Slam.

Rescue mission under way to free boys inside Thai cave Rescue mission under way to free boys inside Thai cave Officials were concerned that monsoon rains, which were forecast for today, would make such a rescue essentially impossible. The Thai Navy SEALS were teaching the trapped soccer team the basics of cave diving, but as recently as Friday, Gov.

Russia's fairytale World Cup run ends in tears However, during the Euro 2008 qualifiers, Croatia twice beat England , including in a decisive game at Wembley when Steve McClaren's reign ended after a 3-2 loss that meant England missed the tournament.

Suzuki Jimny: Still ploughing a Jimny furrow Suzuki Jimny: Still ploughing a Jimny furrow Depending on the gearbox fitted, the Jimny will have a top speed of 90mph with the manual and 87mph with the automatic. Suzuki has just confirmed the 2019 Suzuki Jimny will go on sale in Australia during the first quarter of next year.

Amul Thapar Not On Donald Trump's Shortlist For US Supreme Court Amul Thapar Not On Donald Trump's Shortlist For US Supreme Court The president is poised to reshape the court for what can be decades since Supreme Court appointments are for a lifetime term. But Trump is not rushing toward Coney Barrett with the same fervour, according to two people close to the president.

Tourist boat accident kills at least 21 in Phuket Tourist boat accident kills at least 21 in Phuket The boat, which went down about 7km from shore, was properly registered and had not been overloaded, police said. Some 48 people - passengers and crew - were rescued before the operation was suspended late yesterday.

'Southgate has brought football home again' 'Southgate has brought football home again' During Albion's maiden Premier League campaign, bar supervisor Robyn Harris donned a seagull costume every time the club played. The victory left revelers in Montreal's Burgundy Lion feeling pretty good - though the liquid refreshments may have helped.

2nd T20I: India looks to wrap up early series win 2nd T20I: India looks to wrap up early series win India will try to win their sixth consecutive T20I series, which is part of an unbeaten run stretching back to September 2017. Wrist spin continues to be a deciding factor in the current series as well. "This time, they have taken calculated risks.

U.S. warships pass through Taiwan Strait amid heightened tensions with Beijing U.S. warships pass through Taiwan Strait amid heightened tensions with Beijing Two United States warships entered the Taiwan Strait on Saturday at a time of heightened tensions between Washington and Beijing. US officials, speaking on condition of anonymity, said the destroyers Mustin and Benfold carried out the passage.

Mark Zuckerberg Leaves Behind Warren Buffett In The List Of Richest Persons Mark Zuckerberg Leaves Behind Warren Buffett In The List Of Richest Persons The "Oracle of Omaha" has donated about 290 million Class B shares, which are now worth more than $50 billion, Bloomberg noted. Buffett has donated about 290 million of his shares in Berkshire Hathaway to charities - an equivalent of about $50 billion.

Wasted chances cost Brazil at the World Cup Wasted chances cost Brazil at the World Cup Brazil chased an equaliser in the last 14 minutes of the match in the wake of substitute Renato Augusto's fine headed goal. But it was not Fernandinho's fault that Brazil's 26 shots returned only a single goal.

Russian fans sad but proud after World Cup exit Russian fans sad but proud after World Cup exit Cherchesov said the hosts, who were ranked 70th by Federation Internationale de Football Association before the World Cup, should aim higher.

Wimbledon: Kyle Edmund responds to cheating claims after Novak Djokovic defeat Wimbledon: Kyle Edmund responds to cheating claims after Novak Djokovic defeat I mean, he was running towards the ball and he just hit it and he dropped his racquet. So, yes, it was quite a odd decision from [the] chair umpire, but it happens".

Fed: Trade Uncertainty Could Erode Investments, Confidence Fed: Trade Uncertainty Could Erode Investments, Confidence A narrowing in the gap between short-term and long-term rates has been an accurate predictor of downturns in the past. Beijing has promised to retaliate with tariffs on US goods, including farm products such as soybeans.

New Toyota Supra to race in NASCAR Xfinity Series New Toyota Supra to race in NASCAR Xfinity Series But rest assured we'll see something from the new, BMW-engined sports auto very soon... The Supra has previously raced in mulitple series both in Japan and the United States.

China Says U.S. Has Started ‘Biggest Trade War’ in History China Says U.S. Has Started ‘Biggest Trade War’ in History Donald Trump's trade war could potentially drag in products from other American trade partners, undermining relations. Beijing's taxes hit US -made aircraft, cars, computer chips, fuel, pork and soybeans.