The U.S. economy added 213,000 jobs in June, cueing to the growth momentum employers are capitalizing on, despite mounting concerns of a potential global trade war. Revised figures for April and May bring the monthly average for this year to 214,000 jobs-up from 182,000 the year before.
In the face of generally positive numbers, the unemployment rate rose by 0.2 percent from May - when it reached an 18-year low of 3.8 percent - to the current 4.0 percent. Average hourly earnings rose 0.2 percent from the prior month - less than forecast for the second-straight 0.3 percent gain - while the jobless rate increased to 4 percent from 3.8 percent, the first rise in nearly a year.
Still, the healthy job gains will likely push down unemployment the rest of the year, economists say.
Of those, 499,000 couldn't find work, but they did show up in the government's survey as searching for a job. 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.
Donald said key indicators from the labour force data included the higher participation rate and still-strong wage gains.
Economists had forecast that employers added 195,000 payrolls last month, according to the median estimate compiled by Bloomberg.
The unemployment rate in June fell back slightly to 4.0% from 3.8% in May.
Manufacturing and health care added the most jobs in June - hospitals added 11,000 jobs over the course of the month - while the retail industry lost 22,000 positions, a disappointing turn from what had been an encouraging boost in May.
"As the labor market tightens we should see more businesses raisings wages, offering training, and hiring workers from all corners of the labor market", she added.
The U.S. Labor Department says for the first time in recorded history there is a greater number of job openings than people who are unemployed. The driving force behind the surge, however, is frictional unemployment, characterized by workers' confidence to switch jobs in today's economic climate. Many experts still predict the unemployment rate will fall further by the end of the year to the lowest level since 1969. The labor force participation rate, or the number of people who are actively employed or looking for work, rose to 62.9% from 62.7%. Before joining The Washington Post, she was a senior economics reporter at CNN and a columnist and deputy editor at the Patriot-News in Harrisburg, Pa.
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. After revisions, job gains have averaged 211,000 per month over the past three months.
Asians increased by 3.2 percent.