US adds modest 138000 jobs, dropping unemployment to 4.3 percent

Posted June 03, 2017

The U.S. added a modest 138,000 new jobs in May and hiring earlier in the spring was weaker than initially reported, adding to evidence that the tightest labor market in years is making it harder for companies to fill open jobs. Job gains occurred in health care and mining. Moreover, some slowdown in hiring was probably inevitable as the unemployment rate falls and the pool of available workers begins to dry up. Annual wage gains have stayed near the 2.5% pace since late 2015, despite a steady decrease in the unemployment rate. The highest employment rate was found in El Centro, California at 19.2 percent. The Fed will closely watch inflation and the jobs report when deciding whether or not to raise its rates. A broad measure of unemployment, which includes people who want to work but have given up searching and those working part-time because they can not find full-time employment, fell two-tenths of a percentage point to 8.4 percent, the lowest since November 2007. Under his leadership, Express has put more than 6 million people to work worldwide.

The decline in the unemployment rate-while a sign of a tightening job market- was also due to a drop in the size of the labour force, as the number of people classified as employed and unemployed fell by roughly the same amount. The employment-population ratio edged down to 60.0 percent in May.

The weakness in May's numbers also came with a downward revision to April, bringing average job creation for the last three months down to 121,000.

White-collar firms health-care providers, restaurants and energy producers led the hiring in May.

Social media users baffled by Donald Trump's 'covfefe' tweet
After the post was deleted, Trump made light of the situation by tweeting, "Who can figure out the true meaning of "covfefe"??? ". There is nothing unusual about this, given Trump's penchant for late-night tweets that often result in widespread controversy.

Average hourly earnings increased by 4 cents to $26.22, after a 5-cent increase in April.

In May, employment in professional and business services continued to trend up (+38,000).

The leisure and hospitality industry added 31,000 net new jobs in May, down from 58,000 the previous month. Ford Motor Co said last month it planned to cut 1,400 salaried jobs in North America and Asia through voluntary early retirement and other financial incentives.

They continue to see slightly less than an even chance for one more rate hike before the end of the year, based on the price of fed funds futures contracts traded at CME Group Inc's Chicago Board of Trade. The sector has added an average of 46,000 jobs per month thus far this year, in line with the average monthly job gain in 2016.

AMD Vega to be released in August!
We noticed visible tearing during the session, which is likely due to the projector that AMD used for the presentation. The Threadripper 16-core and 32-thread CPU was demod briefly, paired with two Radeon RX Vega GPUs running Prey at 4K.

Looking behind the immediate numbers, the picture is mixed at best.

Among the unemployed, the government said the number of job losers and people who completed temporary jobs declined by 211,000 to 3.3 million in May. The labor force shrank by more than 400,000 people in May as baby boomers retired and fewer Americans looked for work. Over the past year, average hourly earnings have risen by 63 cents, or 2.5%.

Still, the labor market overall is the healthiest it's been in more than a decade, and the economy shows no signs of slowing down.

North Korea accused of breaching South Korean border
South Korea fired about 90 warning shots at an unidentifiable object flew across the demilitarized zone from North Korea . Tensions have spiked in the region over the nuclear-armed North's weapons ambitions and a series of missile launches.