U.S. workforce adds 222000 jobs in June, as jobless rate increases

Laverne Mann
July 8, 2017

Health care was the biggest jobs contributor adding 37,000 jobs. The unemployment rate on Inauguration Day was 4.8%, and it has fallen since then, to 4.4% in June. But while the employment headline number was strong, inflation pressure was still tame.

The good news was tempered a bit by other factors: A slight uptick in the unemployment rate, a mere 2.5% increase in the hourly pay rate, and job cuts in the auto industry.

"Really great numbers on jobs & the economy!" Trump tweeted earlier this week.

Still, he said, "the continued vitality in the U.S. labor market means that the Fed is on track to begin shrinking its balance sheet in September and to raise rates again in December". "Don't like steel & aluminum dumping!"

The BLS also said that April and May added 47,000 more jobs than previously announced.

In June, the nation's civilian noninstitutionalized population, consisting of all people age 16 or older who were not in the military or an institution, reached 254,957,000. Long-term unemployed accounted for 24.3 percent of all unemployed.

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June's jobs report reflects this, according to Bankrate.com senior economic analyst Mark Hamrick.

Ambulatory healthcare services added 26,000 jobs last month, while nursing and residential care facilities lost 1,200 jobs in June.

The manufacturing sector - key to President Donald Trump's pledge to revive the economy - was little changed, adding just 1,000 new positions after losing twice as many the month before. Although the unemployment rate ticked up from the previous month, it did so because more people joined the work force.

The projected demand for workers will encourage more people to participate in the labor force, temporarily offsetting the projected decline in participation arising from such factors as the ongoing retirement of baby boomers.

"This suggests that we've not yet checked off the "full employment" box, meaning more progress can be extracted from the job market". 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, rose to 8.6 per cent last month from 8.4 per cent in May, which was the lowest since November 2007.

"Stock Market at all time high, unemployment at lowest level in years (wages will start going up) and our base has never been stronger!" he wrote. Trump announced a deal struck with Carrier executives to keep almost 1,000 jobs in the U.S.in his first public appearance since his election on December 1, 2016 in Indianapolis, Indiana.

Other reports by MaliBehiribAe

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