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Business hiring forges ahead in June, with 213,000 jobs added

06 July 2018

The labour force participation rate, or the proportion of working-age Americans who have a job or are looking for one, rose to 62.9% last month from 62.7% in May.

Job growth this year has been faster than in 2017.

But steady wage gains pointed to moderate inflation pressures that should keep the Federal Reserve on a path of gradual interest rate increases.

The unemployment rate rose to 4.0 per cent from an 18-year low of 3.8 per cent in June as more people entered the labour force in a sign of confidence in the jobs market. The public sector gained 11,800 jobs and the private sector lost 2,000. But retailers cut 21,600 jobs last month, after boosting payrolls by 25,100 in May.

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Ontario added 34,900 jobs for an increase of 0.5 per cent compared with the previous month, while Saskatchewan posted its largest monthly gain in over six years with the creation of 8,300 positions, which represented 1.5 per cent growth.

The broader USA economy appears sturdy.

Manufacturers and services firms have said in recent surveys that their business is improving despite anxiety about the tariff showdown between the United States and China. That was the first increase in the jobless rate in 10 months.

Yet the tax cuts have done little to generate substantial pay growth.

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The unemployment rate stood at 7.5 per cent in June, up from 7.3 in May.

The economy also faces a substantial threat from the Trump administration's trade war with China and from other, ongoing trade disputes with US allies, including Canada and Europe. Trump has also spoken about slapping tariffs on imported cars, trucks and auto parts, which General Motors has warned could hurt the USA auto industry and drive up vehicle prices.

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

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Business hiring forges ahead in June, with 213,000 jobs added