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United States employers add 222K jobs, jobless rate rises to 4.4 pct

08 July 2017

Government statistics released today show the US economy added 220,000 jobs last month, which could be encouraging for new college graduates seeking work.

Marvin Loh, senior global markets strategist at BNY Mellon in Boston, pointed out that hourly earnings' 2.5 percent gain from a year earlier were "disappointing", with growth slower than at the start of the year and mostly stagnant over the past several months. The construction sector added 16,000 jobs, and the unemployment rate increased from 4.3% to 4.4%.

In the first half of 2017, healthcare added an average of 24,000 jobs per month, so June's additions beat the average.

This month's numbers came as economists have anxious that the USA economy is struggling to create large numbers of new jobs despite president Donald Trump's pledge to create "JOBS!" A continued plunge in jobs could indicate that larger structural changes are happening at a faster pace than expected. The economy has averaged 194,000 job gains over the past three months, BLS said.

Num. of unemployed as a percentage of the labor force.

Health care employment is also in a growth mode, though not quite as vigorously as past year. But most economists have forecast that growth rebounded in the April-June quarter to an annual rate of 2.5 percent or higher.

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Never mind that the Chicago Police Department has earned a reputation as one of the most brutal and racist in the United States. But Chicago was not among them. " to intervene if Chicago was unable to curb its gun violence, it was unclear what he meant".

Retailers hired 8,100 workers, a surprise respite for a sector which had shed employment for four straight months.

The labor force participation rate rose incrementally from 62.7 percent to 62.8 percent during President Donald Trump's fifth full month in office, continuing to trend at its lowest rate since the late 1970s.

Unemployment nudged up by 0.1 percent to 4.4 percent, an indication that more people are feeling confident enough to re-enter the workforce and look for a job.

"This was a strong jobs report, with a better-than-expected payroll rise augmented by a solid upward revision", said Chris Low, chief economist at FTN Financial.

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. For the year to date, the economy has added +1,079,000 new jobs meaning that the average job creation number for the year to date stands at 179,834 (rounded).

USA job growth surged more than expected in June and employers increased hours for workers, signs of labour market strength that could keep the Federal Reserve on course for a third interest rate increase this year despite benign inflation.

United States employers add 222K jobs, jobless rate rises to 4.4 pct