Home » Money

US employers add modest 138K jobs; rate dips to 4.3 percent

03 June, 2017, 02:01 | Author: Paula Vaughn
  • Friday's US jobs report for May likely to show steady gains

"Today's numbers probably won't stop the Fed from raising rates this month". Since January, the unemployment rate has declined by 0.5 percentage point, and the number of unemployed has decreased by 774,000. The highest unemployment rate was in El Centro, Calif., at 19.2 percent.

Economists surveyed by MarketWatch had forecast a 185,000 increase in nonfarm jobs. The number of long-term unemployed (people who have been jobless for 27 weeks or more) was essentially unchanged during the month at 1.7 million and they accounted for 24 percent of the unemployed. But it is worth paying close attention to the industry's direction; there are almost 16 million retail jobs in the U.S. Manufacturing, which tends to get far more attention from politicians, employs 12 million people.

The labor force participation rate fell 0.2 percentage points - to 62.7 percent - and the employment-to-population ratio also fell 0.2 percentage points, suggesting that would-be workers are leaving the workforce after failing to find suitable employment. Monthly job gains have averaged 121,000 over the past three months, compared with 181,000 over the past 12 months.

The biggest manufacturing jobs gains were in machinery (+3,700), fabricated metal products (+3,500), primary metals (+2,900) and transportation equipment (+2,400).

White-collar firms health-care providers, restaurants and energy producers led the hiring in May.

Average hourly earnings increased by 4 cents to $26.22. Weekly applications for unemployment benefits, which tend to reflect the pace of layoffs, averaged a low 238,000 over the past four weeks, according to the Labor Department.

Express Employment Professionals puts people to work.

The construction sector added just 5,000 jobs in April and 1,000 jobs in March.

So far this year, the US has added 810,000 jobs. The sector has added an average of 46,000 jobs per month thus far this year, in line with the average monthly job gain in 2016.

Retailers' struggles still pale in comparison to the challenges they faced during the 2008-09 recession, when the industry cut more than a million jobs over two years.

Darci Lynne Farmer Talks Nerves Before "AGT" Audition
Some singing teachers, however, have expressed concern over a girl that young performing a hard song with her mouth closed. She was accompanied by her family backstage and on the stage she brought her puppet-Petunia the rabbit, to perform.

Those people were not in the labor force, wanted and were available for work and had looked for a job at some time during the prior 12 months. The data suggest employers are starting to add to payrolls more slowly in a tight labor market.

Last month's job gains could still be sufficient for the Federal Reserve to raise interest rates this month.

This wobble might not be serious enough to stop the Fed hiking interest rates this month, but the USA economy certainly doesn't appear as strong as record-high stock markets and other indicators would lead you to believe.

The unemployment rate is expected to have remained in May at 4.4 percent, a low figure that historically has reflected a healthy job market.

Analysts were split over whether the May report was encouraging or disappointing.

Construction payrolls rose 11,000 last month.

David Berson, chief economist for Nationwide, was much more negative.

As a result, the spread between the jobless rate and this broad unemployment gauge, considered a better measure of labor market slack, was the smallest since early 2008.

Many economists predict wages will rise faster in the months ahead as companies take a more aggressive approach to filling open positions as competition for a dwindling supply of labor intensifies. Trump said the deal would have been bad for American workers.

Get the FULL story at Wall Street Journal. North said. The job creation at this point in the recovery is still solid.


  • State budget deal may be at hand; special legislative session upcoming

    State budget deal may be at hand; special legislative session upcoming

    Scott said he had been having conversations with Corcoran and Negron for months and feels this process was necessary. If lawmakers do not act, the state Department of Health will establish rules for the industry later this summer.
    Comey OK'd to testify; House committee issues subpoenas

    Comey OK'd to testify; House committee issues subpoenas

    Normally names would be redacted unless there was good reason to reveal them. In all, seven subpoenas were issued, according to CNN . Both of their firms-Flynn Intel Llc and Michael D.
    Keri Russell Receives Walk of Fame Honor with Boyfriend Matthew Rhys

    Keri Russell Receives Walk of Fame Honor with Boyfriend Matthew Rhys

    Both the Felicity actors were in town for Russell's Hollywood Walk of Fame ceremony earlier that same day. He added, "It was a Chia-Head sort of vibe to it ... but it grew into something great".
  • Pacquiao offered up as possible opponent for McGregor

    Pacquiao offered up as possible opponent for McGregor

    When asked if Pacquiao would step up to fight McGregor Arum first of all said that Pacquiao has the fight lined up in Australia. In most situations, Floyd Mayweather and a 50-50 split sounds laughable but to Dana White it's fair against Conor McGregor .
    Palestinians, Israel police clash at Jerusalem Old City gate

    Palestinians, Israel police clash at Jerusalem Old City gate

    The International Christian Embassy in Jerusalem (ICEJ) echoed this sentiment in a strategy paper it delivered to Trump and U.S. Trump has spoken of being a mediator, arbitrator or a facilitator in the peace process between Palestine and Israel.

    President Trump to Sign Waiver Keeping US Embassy in Tel Aviv

    Despite that, most experts are skeptical of Trump's chances for achieving a peace deal that had eluded other USA presidents. Moving the embassy would arguably threaten a two-state solution in which the agreed division of Jerusalem would be key.
  • US and Japan stage joint military exercises

    US and Japan stage joint military exercises

    It has dual carriers in the ocean off the Korean Peninsula, and this is the first exercise of its kind since the late 1990's. Defense Department claims that the drills are not a muscle-flexing exercise meant to intimidate North Korea.
    China's Li appeals to Germany for help with certifying C919 jet

    China's Li appeals to Germany for help with certifying C919 jet

    Mr Li said he believed they two had found a solution on the issue of Chinese quotas for electric cars after a lengthy discussion.

    WaPo: Trump Considering Letting Russia Return To 2 US Diplomatic Compounds

    Hammond, an adviser to Tillerson, told reporters "the US and Russian Federation have reached no agreements". Obama also booted 35 diplomats he said were acting as intelligence agents.
  • LIGO detects gravitational waves for third time

    LIGO detects gravitational waves for third time

    LIGO made the first-ever direct observation of gravitational waves in September 2015 and the second detection in December 2015 . For the third time, physicists have detected a gravitational wave: a tiny ripple in the fabric of space-time.

    Shooting heard at Manila leisure complex

    State Department said earlier it was not aware of any U.S. citizens being affected but was continuing to gather information. Witnesses reported seeing injured people, including a SWAT officer who rushed to the scene and was reportedly fired upon.
    Man United fans loved Josh Harrop's debut against Crystal Palace

    Man United fans loved Josh Harrop's debut against Crystal Palace

    Manchester United must not underestimate Ajax Amsterdam in the Europa League final on Wednesday, defender Daley Blind has said. Jose Mourinho's absence from Manchester United's salute of their fans at Old Trafford bothers the FC crew.


Password manager OneLogin suffers data breach
Gizmodo reached out to OneLogin for comment on yesterday's breach, but had not heard back at time of writing. OneLogin's blog post includes no other details, aside from a reference to the company's compliance page .

Awkward! Donald Trump gaffe prompts Israeli Ambassador to face-palm during meeting
Similarly, he said , "In my meeting with my very good friend, Benjamin, I can tell you also that he is reaching for peace". Daniel Douek teaches comparative politics and worldwide relations at Concordia University and McGill University.

3 dead in shooting at Texas auto dealership
Two bounty hunters and the suspect they were chasing are both dead after a shootout in a northeast Texas auto dealership. Hutchinson was in an office at the dealership with another person when he was approached by Bernal and Garcia.

Spicer refers Russia questions to Trump's outside attorney
President Donald Trump's former campaign manager says he'd be willing to join the White House staff if "the right role is there". White House Communications Director, Mike Dubke , is resigning just three months after joining the Trump administration.

World leaders reaffirm commitment to fighting climate change
Other European leaders issued more explicit appeals to the USA government not to abandon global measures against climate change . While he did not mention the United States or Donald Trump, Mr Li's comments were clearly addressed to Washington.