Hispanic Unemployment Reaches Record Low, Media Praise Labor Force Rate


The increase is the same for both overall employment and production and nonsupervisory workers.

WASHINGTON, July 6 (Reuters) - U.S. employers likely maintained a brisk pace of hiring in June while increasing wages for workers, which would reinforce expectations of robust economic growth in the second quarter and allow the Federal Reserve to continue raising interest rates.

Some businesses are finding it harder to find qualified workers.

The job gains in the establishment survey were broadly based. Construction payrolls increased by 13,000 after rising by 29,000 jobs in May. Even with more and more jobs, annual wage growth has remained stubbornly below 3% since early 2009.

The June jobs data showed an economy that may be on the cusp of producing stronger pay growth, something that could be disrupted if additional tariffs are imposed. That was the first increase in the jobless rate in 10 months. This may be due to erratic seasonal factors. But the average was skewed downward in June because the job seekers were mainly those with only a high school education or less, who are generally paid lower wages, Barrera noted. Over the past 12 months, this sector has gained 285,000 jobs, with about three-quarters of them involving durable goods such as metal products, computer parts and cars. Wall Street welcomed the employment gains, sending the Standard & Poor's 500 up 0.9 percent on Friday.

In the 1950s, about 97 percent of men between the age of 25 and 54 years old participated in the labor force, meaning they worked or were actively looking for work. He expects unemployment to reach 3.5 percent by the end of the year. Trump oversaw a steadily-declining unemployment rate which eventually reached its lowest level since 2000.

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This may seem freakish on a number of levels - the person might have stopped looking because she feels her search is hopeless, or because he no longer wants a job. That's tied with Florida (the fifth worst) for having the lowest unemployment insurance period in the country.

Policymakers at the Federal Reserve, the United States central bank, monitor the report because they can raise interest rates when employment is close to full, wages are rising healthily and unemployment is low. It also climbed 0.2% to 5.9%.

The unemployment rate inched up to 4%, the first increase in nearly a year.

The big gainers in terms of employment continue to be less-educated workers. It is now unchanged for the a year ago, half a percentage point above its prerecession level.

On Friday, the world witnessed the imposition of new tariffs by the USA and China on goods worth $34bn from each of the two countries. Nonetheless, at 6.6 million, the number of unemployed Americans could again be smaller than current job openings.