Economy adds 222000 jobs in June

Posted July 08, 2017

The unemployment rate is expected to hold at 4.3%, while hourly earnings are anticipated to have risen 2.6% year over year.

US employers added a robust 222,000 jobs in June, the most in four months, a reassuring sign that businesses may be confident enough to keep hiring despite a slow-growing economy.

Friday's report from the Labor Department shows wages grew 2.5 percent in June from the same period a year earlier. That amounts to at least 50,000 fewer jobs than the industry's pre-recession high of 1.18 million jobs in May 2007, according to historical Labor Department data.

June marked the 81st consecutive month of jobs growth in the USA but the recovery from the depths of the 2007 recession has been marked by slow wage growth and a worryingly large number of workers in part-time work.

The number of long-term unemployed (those jobless for 27 weeks or more) was unchanged at 1.7 million in June and accounted for 24.3 percent of the unemployed.

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"After last month's surge in jobs activity, small business owners seem to be in a holding pattern while they wait to see what Congress will do with taxes and health care", said National Federation of Independent Business president and CEO Juanita Duggan.

In terms of what sort of compensation travel agents can expect, the 2016 salary survey from Hot Travel Jobs found a national average for leisure travel agents of $46,101 previous year, and $47,814 for corporate travel agents. The unemployment rate picked up for the right reasons. The unemployment rate on Inauguration Day was 4.8%, and it has fallen since then, to 4.4% in June.

The labor force participation rate rose a tenth of a point to 62.8 per cent, at a time when many USA students and new college graduates began hunting for summer work. However, the unemployment rate ticked up slightly - 4.4 percent in June compared to 4.3 percent in May.

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.

The pace of job gains remains relatively strong, almost seven years into the current economic expansion.

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This has been a tough year for the retail industry.

But it's close, and a stronger than expected report on June job growth pulled Trump closer to his predecessor. The broader S&P 500 edged 8.5 points higher, or 0.4%, to 2,418.

The change in total nonfarm payroll employment for April was revised up from +174,000 to +207,000; and the change for May was revised up from +138,000 to +152,000.

The sector has purged jobs for three straight months.

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