USA adds 213,000 jobs in June, unemployment rate jumps…

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And companies have been offering more benefits to attract and retain their workers. The average hourly wage has increased by just 2.7 percent in the a year ago. Trump has suggested that more than $500 billion worth of Chinese imports could be taxed in his drive to force Beijing to reform its trade policies, which he insists have unfairly victimized the United States.

The news in the household survey was mostly positive.

The Bureau of Labor Statistics released a report Friday, showing 36,000 manufacturing jobs were created last month. The department also boosted its estimate for April job growth up to 175,000 - up from an earlier assessment of 159,000.

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

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"Clearly, firms are looking for workers and have become somewhat desperate, but if they cannot find them, then job growth could be lower than the consensus", said Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania. Full-time employment was up by 9,100 By sector, employment in goods producing industries was up by 46,600, the highest since April 2012, led by construction and manufacturing Service producing industries lost 14,700 jobs during the month Self-employment was up by 22,000, with employment in the public sector rising by 11,800. But retailers shed 21,600 jobs, with the losses concentrated at general merchandise stores. "It indicates that we have more labor market slack". It's "another strong month for jobs", CNN's Christine Romans told her viewers.

Dropping from its previous record of 4.8 percent from October of 2006, Hispanic unemployment now sits at 4.6 percent for the month. "Combined with additional jobs and steady hours, payrolls are up by 5 percent since June 2017".

This may seem freakish on a number of levels - the person might have stopped looking because she feels her search is hopeless, or because he no longer wants a job.

What about tariffs? On Friday, the US formally imposed an additional $34 million in tariffs on China.

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Hanging over the labour market are President Donald Trump's tariffs on goods from some of America's largest trading partners, along with retaliatory charges.

"Clients tell us all the time that they will be more cautious in this kind of environment".

A steady pace of hiring and gradually rising wages, along with lower taxes, are helping underpin consumer spending and propelling a rebound in U.S. growth this quarter.

The economy also faces a substantial threat from the trade tension with China and from other trade disputes with USA allies, including Canada and Europe.

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In addition, the data should encourage the Federal Reserve to hike interest rates at least once more this year (with the balance of risks tilting toward two hikes).

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