Hispanic Unemployment Reaches Record Low, Media Praise Labor Force Rate

The bottom line is that the buoyancy in June's USA labor market statistics will reaffirm the Federal Reserve's view that the economy is doing super-well at present and that further interest rate hikes will be justified.

The economy also faces a substantial threat from the Trump administration's trade war with China and from other, ongoing trade disputes with USA allies, including Canada and Europe. That risks weighing on economic growth and the pace of hiring and investment.

The report showed strength in the economy before a trade war started between the United States and China, which analysts warned could slow hiring, especially in the manufacturing sector.

According to a government report on Friday, the US labor market continued to power forward in June, adding another 200,000 jobs.

The May numbers show that imports expanded 1.7 per cent, while exports dipped 0.1 per cent. President Donald Trump's tax cuts have provided a dose of stimulus this year, but the benefits have been tilted significantly toward wealthy individuals and corporations.

Construction payrolls rose by 13,000 last month after rising by 29,000 jobs in May. So, taking this all together we have a U.S. economy growing at around 4% in the current quarter, that has an incredibly tight labour market with headline consumer price inflation potentially rising to 3% next week.

#WC2018: Croatia beat Russian Federation on penalties to set up semi against England
We've built that and to get through the two games we've had this week needed all of that because we're not the finished article.

Exports declined mostly because of weaker trade on motor vehicles and parts as well as metal ores and non-metallic minerals. The agency says more people were seeking job opportunities and that forced the rate up to 6%.

"The underlying fundamentals have been strong for quite some time and while we were a little surprised by the uptick in the unemployment rate, it appears to be caused by additional workers entering the labor force, which is a positive", Bedikian said. The reason for the rise in the unemployment rate was "a stampede of people back into the labour force", he said. This was more than the 190,000 forecast by economists.

"The tariffs jumble things about what we should expect to see in the next few months", said Cathy Barrera, chief economist at ZipRecruiter, the online jobs marketplace.

Tapping into the potential pool of those who have given up looking for work, the job market seems to still have room for improvement. "There are millions of people in that type of situation".

Canada has been producing some of the strongest pay gains in years and that trend continued in June with average hourly wages up 3.6 per cent from a year earlier.

Even more surprising is this: If you do the math, the jobless rate actually rose by 0.3 of a percentage point - from 3.75 percent in May to 4.05 percent in June.

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