Money U.S. employers add 157,000 jobs, jobless rate hits 3.9 per cent

17:06  03 august  2018
17:06  03 august  2018 Source:   msn.com

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U . S . employers slowed their hiring in July, adding 157 , 000 jobs , a solid gain but below the healthy pace in the first half of this year. The unemployment rate ticked down to 3 . 9 percent from 4 percent , the Labor Department said Friday.

It had been 4.1 percent since October. ■ 164, 000 jobs were added last month. When the jobless rate hit these levels right before the dot-com bubble burst, the labor-force participation rate was significantly higher than it is today.

File image a 'help wanted' sign.© Joe Raedle/Getty Images File image a 'help wanted' sign.

WASHINGTON - U.S. employers slowed their hiring in July, adding 157,000 jobs, a solid gain but below the healthy pace in the first half of this year.

The Labor Department said Friday the unemployment rate ticked down to 3.9 per cent from 4 per cent. That's near an 18-year low of 3.8 per cent reached in May.

Employers added an average of 224,000 new workers in the first six months of this year, a faster pace than in 2017. The pickup has impressed many economists because it occurred late in the economic expansion, which has entered its 10th year and is now the second-longest in U.S. history.

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WASHINGTON, May 4- U . S . job growth increased less than expected in April and the unemployment rate dropped to near a 17-1/ 2- year low of 3 . 9 percent as some jobless Americans left the labor force. Leisure and hospitality employers added 18, 000 jobs last month.

Data for March was revised to show the economy adding 135, 000 jobs instead of the previously reported 103, 000 . Employers , especially in the construction and manufacturing sectors, are increasingly reporting difficulties It was the first time in six months that the jobless rate dropped.

The slip in hiring last month may be temporary. Consumers are spending freely and businesses are stepping up their investment in buildings and equipment, accelerating growth. That's raising demand for workers in industries ranging from manufacturing to construction to health care.

The economy expanded at a 4.1 per cent annual rate in the April-June quarter, the strongest showing in nearly four years.

One cloud on the horizon has been the Trump administration's trade fights with China, the European Union, Canada and Mexico. The White House has slapped tariffs on steel and aluminum and on $34 billion of imports from China, and several companies have hit U.S. imports with retaliatory duties.

Yet the trade fights didn't appear to impact hiring last month. Manufacturers, among the most directly affected by the import taxes, added 37,000 jobs, the most in seven months.

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WASHINGTON — U . S . employers slowed their hiring in July, adding 157 , 000 jobs , a solid gain but below the healthy pace they maintained in the first half of this year. The Labor Department says the unemployment rate ticked down to 3 . 9 percent from 4 percent .

More: Jobs : Unemployment rate falls to 3 . 9 %, employers add 164, 000 jobs in April. Pay has not increased as much as economists anticipated given the sharp decline in the jobless rate .

Oil and gas drillers nearly doubled their investment in drilling rigs and other structures this spring, helping manufacturers expand. That's likely boosted factory output of steel pipe and other drilling equipment. The new spending follows a 60 per cent jump in oil prices in the past year.

The economy is projected to grow at about a 3 per cent pace for the rest of the year, which would likely mean that growth for all of 2018 would top 3 per cent for the first time since 2005.

Strong demand from consumers and businesses sharply reduced the stockpiles of goods held on many store shelves and warehouses. Rebuilding those inventories will require additional factory output, potentially lifting growth in the third and fourth quarters.

One weak spot for economy, however, is the housing market. Sales of existing homes have fallen for three straight months and are now below a recent peak reached last November. Sales of new homes fell sharply in June.

With the economy healthy, more Americans want to buy homes, but there is a paucity of houses for sale. That has driven up home prices. Mortgage rates have also increased in the past year, lifting monthly payments and making many homes even less affordable.

Canada’s Job Vacancy Rate Hits Record High; Here’s Where The Jobs Are .
Canadian businesses are having a historically hard time finding employees, and the good news for workers is that pay is likely headed up. The latest Help Wanted Report from the Canadian Federation of Independent Business (CFIB) showed Canada's job vacancy rate hit 3.1 per cent in the April-to-June quarter this year, the highest rate since the CFIB started tracking this data in 2004.This means that for every 100 jobs in the country, more than three have been sitting empty for four months or longer.

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