dglobalnews.com Turn in the Labor Market
Published: Sat, July 08, 2017
Markets | By Armando Jensen

Turn in the Labor Market

Turn in the Labor Market

Average hourly earnings for all employees rose by 4 cents to $26.25.

"While the unemployment rates for workers of color remain far higher than for white non-Hispanic workers, the black unemployment rate has been falling faster than overall unemployment over the previous year", she said in a statement after the jobs report.

However, the U.S. unemployment rate ticked higher to 4.4 per cent, from 4.3 per cent previously, and earnings were up only 2.5 per cent year on year, slightly lower than expected. That amounts to at least 50,000 fewer jobs than the industry's pre-recession high of 1.18 million jobs in May 2007, according to historical Labor Department data. The report highlighted jobs growth that has exceeded recent monthly averages, which appeared to have been slowing down. "Really great numbers on jobs & the economy!" he wrote.

The U.S. economy added 222,000 jobs in June to surpass expectations, keeping the Federal Reserve on course as it steadily raises interest rates. Remember, the headline unemployment rate declined under Barack Obama because people were leaving the workforce.

The number of people employed part time for economic reasons (sometimes referred to as involuntary part-time workers), at 5.3 million, changed little in June.

The job gains have encouraged more people to start looking for work, and this was behind a slight increase in the unemployment rate to 4.4% in June from 4.3% in May.

April's nonfarm payrolls were revised up to 207,000 and May's tally up to 152,000, a net increase of 47,000.

Venus Williams blamed in fatal Palm Beach Gardens crash
Williams, according to the report , told police she was stopped in the median of the intersection because of other traffic. The New York Post reports that the auto , driven by the wife of the victim, then T-boned Williams' SUV.

The labor force participation rate rose a tenth of a point to 62.8 percent in June, which is within two-tenths of a point where it's been since January.

The June jobs report is out and it's a beat. Spot gold sank all the way down to $1,217/oz, its lowest in almost four months, while spot silver lost 1.5% to trade below $15.80/oz.

In June, mining employment grew by 8,000, with most of the growth in support activities for mining (+7,000).

This has been a tough year for the retail industry. When combined with flat average weekly hours, the foundations of income growth were fairly soft.

Economists say when hiring steps up, employers usually have to raise wages to attract and retain the best workers.Many companies complain they cannot get all the technically-skilled workers they need.But so far, overall wages have grown little.

The sector has purged jobs for three straight months.

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