Three Takeaways From the June Jobs Report: Mohamed A. El-Erian
08 July, 2018, 16:54 | Author: Regina Silva
The report showed little, if any, evidence of tariff-related weakness in the economy, especially with continued strength in goods-producing jobs: Manufacturing added 36,000 to payrolls, the best month since December, including a 12,000 increase in the auto industry, the most since August.
Therefore, June's level of total U.S.jobs is now +250,000 (i.e., the sum of 213,000 and 37,000) versus what was reported by the BLS a month ago.
The unemployment rate ticked up to 4% from 3.8%, but this was because more people entered the labour force looking for work.
A long run of impressive monthly job creation is among the main reasons why the projections of economists, in both the private and public sectors, have continued to be bullish for US growth, despite growing uncertainty about the rest of the global economy and the threat of a trade war.
The employment increase last month beat economist expectations for a 20,000 gain and was the second highest so far in a year where job creation has been sluggish.
"This is a good job-creation number, but on the other hand we see still continued soft wage growth", said Michael Feroli, chief USA economist at JPMorgan Chase. But for now the sector, which accounts for about 12 percent of the USA economy, appears in good health.
Ian Shepherdson, chief economist of Pantheon Macroeconomics, said "we can't stress enough that all the numbers from the household survey are so volatile that they're essentially meaningless on a month-to-month basis". Wages increased by 0.2 percent from May to June of this year, and 2.7 percent since June 2017.
Federer, Serena aim to advance on Wimbledon's 'Manic Monday'
He was in cruise control from there and raced to the first set before two more breaks in the second solidified Nadal's domination. If he does reach the final, he would prefer not to face Federer, the eight-time champion at the All England Club.
The monthly Labor Department report painted a less sanguine picture for workers' paychecks.
"Healthy" rise in the unemployment rate: Even though it was expected to decline, the unemployment rate rose to 4 percent from 3.8 percent.
The gain in USA total employment through the first half of this year has been 1.3 million jobs.
The labor force expanded by 601,000 jobs over the month, with an influx of new women and teen workers more than offsetting a dip in labor force participation among men, said Gregory Daco of Oxford Economics.
Construction payrolls rose by 13,000 last month after rising by 29,000 jobs in May. With upward revisions to the data from the prior two months, the average gain over the last three months was 211,000.
Just hours before the monthly reports came out, the Trump administration imposed tariffs on $34 billion worth of Chinese imports, prompting the Asian country to immediately reiterate. "Not only did payroll employment increase by 213,000 - evidence that employers are finding workers - but wage growth held steady at a disappointing 2.7 percent - evidence that employers are not having to raise wages to attract and retain workers".
"The Jimny is synonymous with the Suzuki brand and to have an all-new model on its way is something worth talking about". The Jimny's interior, meanwhile, gains modern features such as a 7-inch touchscreen infotainment system with Bluetooth.
Miocic forced a clinch and sloppily pulled out of it moving towards his left , running straight into Cormier's huge right hand. Cormier has been a clean fighter for his entire career and he has truly dominated his competition throughout his career.
They expect the manufacturing sector to bear the brunt of the trade fights, through a slowdown in hiring and capital expenditure. But with a record 6.7 million unfilled jobs in April, economists are confident that wage growth will accelerate later this year.
But the qualifying offer is the only one he has received, and there's been no talk since free agency opened. This is certainly a lot of anger coming from the Smart camp, but this is sometimes how free agency goes.
Police confirmed that while no bones had been broken, the deep laceration was so severe the unidentified woman would need surgery. But when Emergency Medical Technicians arrived, the woman gave in and agreed to ride in their ambulance to get medical treatment.
Also, Rohit Sharma is in need of 19 more runs to be the second Indian batsman to score 2000 runs after Virat Kohli in T20Is. India , who won the first match by eight wickets, started poorly after losing the toss and slumped to 22 for three.
The Army declined to comment on whether the involuntary discharges were part of a wholesale change to the Army enlistment program. Congressman Andy Harris, R-Maryland, told the AP he wants to limit MAVNI and "prioritize enlisting American citizens".
Someone asked me earlier 'What's your approach to fighting Stipe?' and it's going to be the exact same thing. The UFC has branded their UFC 226 clash "The Superfight" - and Cormier says that label is fully justified.
They were expected to talk all day Saturday before Pompeo heads to Tokyo to brief Washington's Japanese and South Korean allies. However, the statement also appeared to separate North Korea's annoyance with the USA from its relationship with Trump himself.
But that said, do yourself a favor and bury your bookmaker this Saturday night and watch Cormier become a two-division UFC champ. Pettis (21-7) staggered his larger opponent with a right hand before winning for just the third time in eight fights since 2014.
The Trump administration contends that China has deployed predatory tactics in a push to overtake USA technological dominance. But the thing is some say the trade war started this morning, and in a war, it's not always calm or controllable or rational.
Engand's Dele Alli busts out Fortnite dance in World Cup match
I don't feel this was my best performance on the pitch but for the team and the country to be in a semi-final is unbelievable . It was England's eighth set-piece goal of its 11 in Russian Federation , and the centre back's first in worldwide football.
North Korea vents anger after U.S. talks
The outcome of the latest US-North Korean talks on denuclearization was clearly a matter of perspective. They accused Washington of pushing for "unilateral and gangster-like demand for denuclearization".
England roar into World Cup semis
Walker and Stones enjoyed a solid afternoon, as Sweden were limited to few clear chances with England shielding a two-goal advantage.