July 26, 2017

U.S. adds 222000 jobs in June, keeping Fed on course

08 July 2017, 12:29 | Ignacio Smith

Getty Images

Getty Images

Average hourly earnings for all employees rose by 4 cents to $26.25. Average hourly earnings increased four cents, or 0.2 percent, in June after gaining 0.1 percent in May.

Significant job gains occurred in health care (37,000 jobs), professional and business services (35,000 jobs), food services (29,000 jobs) and social assistance (23,000 jobs).

In June, 1.6 million persons were marginally attached to the labor force, down by 197,000 from a year earlier.

Economists responding to a Bloomberg survey predicted that the economy would add 170,000 jobs in June and ADP's monthly forecast projected only 158,000 new jobs. The participation rate ticked up as job seekers came back into the market. Maybe there is some seasonal adjustment issues at play affecting summer student hirings, because kids aged 16 to 19 saw a jobs surge of 203,000 last month.

The Bureau of Labor Statistics revised April and May's reports to reflect an additional 47,000 jobs added in total.

The broad-based S&P 500 rose 0.3 percent to 2,417.58, while the tech-rich Nasdaq Composite Index advanced 0.6 percent to 6,125.02.

Syria accuses Turkey of negativity
The United States is willing to work with Russian Federation to implement measures to stabilize Syria , including no-fly zones. Syria already has three de-escalation zones after Russia , Turkey , and Iran signed a deal in Astana , Kazakhstan in May.

The Federal Reserve voted to raise its benchmark interest rate by a quarter of a point from 1 percent to 1.25 percent in June.

"Once again, the buzz kill on the jobs report is the lack of more substantial wage growth", said Mark Hamrick, a senior economic analyst for, which tracks interest rates. The one-tenth of a percent increase is due to more people, perhaps encouraged by mostly positive economic news, resuming their search for work. (The data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months.

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.

Sterling fell to a more than one-week low of $1.2871 and was last down 0.7 percent at $1.2883. The figure would also be a rebound from the relatively weak gains of 138,000 jobs in May. The industry has added 277,000 jobs over the year. (Usually, the two tend to move in opposite directions.) There has been a general return of volatility to the stock market after months of steady, incremental gains.

United States 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.

Other News

Trending Now

With eye on China, Trump may up pressure on North Korea
The sanctions ban American individuals and companies from doing business with those identified in Thursday's announcement. OFAC said Dalian Global Unity transports goods and products between North Korea and China.

Chicago Police and Federal Agents to Team Up on Gun Violence
Bureau of Alcohol, Tobacco, Firearms and Explosives to head to Chicago in an effort to combat gun crime this Thursday. In January, Trump had tweeted: "If Chicago doesn't fix the awful "carnage" going on, I will send in the Feds! ".

Wimbledon 2017: Hip injury forces Murray out of final warm-up match
When the Wimbledon main draw begins Monday, Murray will have had just one competitive match under his belt in a little over a month.

Shadow of War will let you import your fiercest rivals from Mordor
If you found yourself missing your top rival Nemesis and Follower from Middle-earth: Shadow of Mordor , you're in luck. This basically means that you can go ahead, download and play this awesome Lord of the Rings game for free on Steam .

Around 1000 Cinema Theatres In Tamil Nadu To Stay Shut From Today
They (both AIADMK and DMK) have been using the Entertainment Tax as a method to control the film industry. Hope the acclaimed director's fervent appeal achieve its objective and the Tamil film industry is saved.

Scattered showers and storms today; clearing out Sunday
Tonight's forecast calls for a low around 61, with partly cloudy skies and winds coming from the north at 5 to 10 miles per hour . We will see a few scattered showers and storms on and off throughout the day, but most of the day will be dry.

US House passes bill to defund 'Sanctuary Cities'
An illegal immigrant from Honduras, Edwin Mejia, is wanted for motor vehicle homicide in the case, according to U.S. Democrats on the House Judiciary Committee - where the bills came from - criticized the bills Thursday.

Kapp, van Niekerk set up massive win for South Africa
However, Taylor said her side were focussing on pulling all facets of their game together and executing on game day. The tail was wiped out by skipper, Dane van Niekerk, whose leg-spin proved hard to get away.

Turkey, US discuss situation in region
Officials in Baghdad contend the weapons supplied to the Kurdish fighters will be tracked and metered out, and eventually taken back by the U.S.

The skinny on NC and Trump's request for election data
Louisiana Secretary of State Tom Schedler's office said staff and attorneys were reviewing the request. They immediately saw through what Trump's "election integrity" commission was trying to pull.