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.
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.
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 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".
Journalists on the scene report that "the trend toward an imminent rescue attempt continues", news.com.au reports. Professional cave divers from Europe are making the risky dives with a contingent of Thai navy SEALs.
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.
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.
Homicide detectives continued doorknocking neighbours late into the night in search of information as to exactly what transpired. Police were called to a house on Hull Road in West Pennant Hills about 5:20pm.
Teigen tweeted , "how does this dips**t think 23 and me works? where does he think you swab?" "To the fake Pocahontas I won't". Women vote, organize marches, knock on doors, make phone calls, run for office - and win", she added.
Fernandinho's own-goal ensured for the first time since March 2017 that Brazil was trailing in a competitive match. De Bruyne doubled Belgium's lead in the 31st minute following a swift counterattack following a Brazil corner.
Pompeo, Japanese counterpart meet on North Korea
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.
Watch the new Suzuki Jimny tackle some off-road obstacles!
"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.
2nd T20I: India looks to wrap up early series win
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.
England have the edge over Croatia, says Hamann
Italy was the last team to do so, with comeback wins against Mexico and West Germany in the 1970 quarters and semis respectively. At 1-1, Fernandes missed his shot - only the second player to miss in any of the four shootouts at this year's World Cup .
Hispanic Unemployment Drops to Historic Low
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.
Boston commuters haul a train off woman's leg
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.