Marcha 24, 2018

US Employment Jumps By 209000 Jobs In July, More Than Expected

04 Agosto 2017, 08:17 | Gervasio Siguenza

US Added 209000 Jobs in July, Unemployment Holds At 4.3%

EXCELLENT: US Created 209000 Jobs in July, Crushing Expectations

The US economy created more jobs than expected in July helping to send the unemployment rate lower once again, sharpening expectations of faster monetary tightening by the American central bank.

Employment rose in restaurants and bars, white collar jobs, and health care. "Today's unemployed are more than twice as likely to be out of work for more than six months than the unemployed in April 2001 [when the unemployment rate was in a similar place]".

US auto sales fell 6.1 percent in July from a year ago to a seasonally adjusted rate of 16.73 million units.

The jobs report is out and it's a beat.

The black unemployment rate of 7.4% is almost double that for whites, 3.8% (or double to 7.6%).

In the previous year to date, healthcare has added 327,000 jobs, according to BLS. This rate has remained steady for the past year.

Canada's labour market continued its stellar performance in July, with the jobless rate falling to the lowest since before the financial crisis. Americans are buying homes at a healthy pace, but vehicle sales have fallen off. Factory production is expanding modestly, but a report Thursday pointed to slower growth among services firms, such as retailers, banks and construction companies.

The unemployment rate has lost a tenth of a percentage point to 4.3%, the lowest level in 16 years, and that had already been reached in may.

However, average monthly job creation so far in 2017 is 185,000, slightly below the average recorded in 2016 and well below 2015 and 2014.

However, the June 2017 rate of 7.1% nearly matched that number.

Economists had forecast payrolls increasing by 183,000 jobs and wages rising 0.3 percent in July.

Overall, this is a pretty good jobs report. The Federal Reserve would like to see wage growth kick up to 3.5%. Strong job gains are consistent with above-trend growth in the economy, he said.

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