Jobless rate for Latino Americans fell to record low in June

Jobless rate for Latino Americans fell to record low in June

Jobless rate for Latino Americans fell to record low in June

Analysts said the June employment report gave comfort to Federal Reserve officials that steady hiring in the labor market would not trigger too much inflation worry for the moment. But the average was skewed downward in June because the job seekers were mainly those with only a high school education or less, who are generally paid lower wages, Barrera noted. "We've seen that happen at an alarming rate".

Matthieu Arseneau, deputy chief economist for the National Bank, said that since the start of 2018 total employment has registered a decline of 48,000 private-sector jobs. "But enjoy the good news in the June report", Holtz-Eakin said. The agency's Bureau of Labor Statistics issued its monthly look at the employment situation in the US, showing a rebound in the legal services sector after more tepid results in May.

But in fact more people entering the workforce is a sign of optimism that jobs are available in an economy now entering its 10th year of expansion.

The data for demographic groups came from a survey of households that is part of the Labor Department's monthly jobs report.

Manufacturers hired 36,000 workers in June, the most in six months, adding to the 19,000 jobs created in May.

Signs of the Trump administration's trade war with China and did not show up in the report.

Michael Gapen, chief USA economist at Barclays Plc in NY and a former Fed official, said that the boost in workers coming into the labour market bodes well for pushing down the unemployment rate again.

The EPOP for Hispanics rose 0.4 percentage points to 63.4 percent, a new high for the recovery, while their unemployment rate fell to 4.6 percent, the lowest on record.

While the unemployment rate slightly increased in June, the number of employed Americans increased to a record high. An acceleration of this rate would show that employers are indeed paying up for the skilled workers who they say are in decreasing supply.

Wages were also a bit of a disappointment, with average hourly earnings rising by 0.2% over the prior month and 2.7% over the prior year. "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 economy also faces a substantial threat from the trade tension with China and from other trade disputes with US allies, including Canada and Europe.

Large companies are also starting to feel the effects of steel and aluminum tariffs. "Combined with additional jobs and steady hours, payrolls are up by 5 percent since June 2017".

Related news