The Economy Keeps Adding Jobs, But Filling Them Gets Harder

The Economy Keeps Adding Jobs, But Filling Them Gets Harder

The Economy Keeps Adding Jobs, But Filling Them Gets Harder

Canada added 9,100 full-time jobs in June and 22,700 part-time positions, while work in the less-desirable category of self-employment rose by 22,000.

It is unusual for monthly job numbers to be this high nine years into an expansion. Yet its path ahead is uncertain.

Therefore, June's level of total is now +250,000 (i.e., the sum of 213,000 and 37,000) versus what was reported by the BLS a month ago.

"People are anxious. The trade war isn't hurting them yet, but they are concerned".

Major U.S. stock indexes were mostly higher July 6 after the jobs report was issued, keeping the market on track for a weekly gain after two weeks of losses.

Nonetheless, the USA jobs market is incredibly hot right now with yesterday's NFIB jobs survey suggesting that in the small business sector, the proportion of firms looking to hire workers has been higher on only three occasions in the past 45 years.

President Donald Trump ran for president with a promise of reviving the economy and the results so far look to boost his agenda for the November 6 midterm elections.

Average hourly earnings rose by 5 cents, or 0.2%, to $26.98, lower than market expectations for a 0.3% improvement. Pay increases remain the missing part.

The unemployment rate rose to 4.0 percent from an 18-year low of 3.8 percent in June as more people entered the labor force in a sign of confidence in the jobs market.

These new entrants to the labor market have good reason to think their prospects of finding a job are good: Job growth is really strong. Up until last month, the country's labour force had been little changed through 2018. "Aside from the immediate job market impacts, the trade disputes risk raising prices for consumers hurting their purchasing power, which then reinforces the dampening impact on the job market", Hamrick added. "We've seen that happen at an alarming rate". It's too soon to tell what impact they'll have - hiring in manufacturing continues to be strong, with 36,000 jobs added in June - but what we do know is that they are creating uncertainty, Hamrick said. The education and health sector added 54,000. A separate measure, average hourly earnings for production and nonsupervisory workers, also increased 2.7 percent from a year earlier, unchanged from the prior month's gain.

The gain in US total employment through the first half of this year has been 1.3 million jobs.

Most economists agreed the uptick in the unemployment rate is the result of volatile figures used in the calculations. As executives say they can not find enough qualified workers, some are turning to hiring people who are incarcerated or people with disabilities.

Manufacturers and services firms have said in recent surveys that their business is improving despite anxiety about the tariff showdown between the United States and China. The number, however, did come down from its nine-year high in May of 3.9 per cent.

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