US job market looks solid 8 years after recession ended

US job market looks solid 8 years after recession ended

Because of the sluggish growth, businesses never had to scramble, and pay more, to add workers. The consensus expectation of economists is that the Labor Department will report that employers added 176,000 jobs, according to a survey by FactSet, a data provider.

The unemployment rate, which is calculated from a different survey, fell from 4.4% to 4.3%, lowest since May 2003, the Labor Department said Friday.

Restaurants and healthcare firms posted solid job gains. "For the near term, we believe that today's report does not meet the high bar required for the Fed to stand pat on the fed funds rate at its meeting later this month". Since January, the unemployment rate has declined by 0.5 percentage point, and the number of unemployed has decreased by 774,000. That number has been rising slowly over the past two years, an indication that more people in their prime working are optimistic enough to participate in the labor force. Of the 91 months since white unemployment hit that peak of 9.2 percent, black unemployment has been over 9.2 percent in 70 of them.

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed at 5.2 million in May. It'll employ 70 workers. To some extent, that's also true of the U-6 rate, which looks at underemployment as well as unemployed, but still uses the workforce total as the denominator. March nonfarm payroll growth came down to 50,000 from 79.000.

Alexander Zverev defeats Djokovic to win ATP Masters 1000 in Rome
The Serbian star split with his entire backroom team earlier in the season following a hard start to the 2017 campaign. His decline began after winning last year's French Open.

Combined with a downward revision of 29,000 for March, the economy now has averaged a gain of just 121,000 net new jobs in the last three months. Average monthly job growth so far this year is now 162,000, compared with 178,000 in 2016.

That's not rip-roaring growth, and barely qualifies as growth at all.

USA employers pulled back on hiring in May by adding only 138,000 jobs. Average hourly earnings were up by 2.5 percent from the previous year to $26.22, continuing a streak of relatively weak wage growth. Long-dated U.S. Treasury yields fell to almost seven-month lows, and short-dated yields touched their lowest in more than two weeks.

Hiring fell for the fourth straight month among traditional retailers that continue to lose ground to Internet rivals.

India, France show common front on climate change fight
The US joins Syria and Nicaragua as the only countries who will ignore the global agreement to cut greenhouse gas emissions. The Paris agreement was just the beginning of future negotiations between world leaders on climate change.

"The loss of manufacturing jobs in May is a stark reminder of the challenges that face factory workers: declining auto sales, a persistently high goods trade deficit, and muddled fiscal policies", said Alliance for American Manufacturing President Scott Paul in a statement. That's right in line with the monthly average of 174,000 over the past three months. That was only slightly above the 2.2 percent annual increase in the consumer price index.

"The participation rate fell, and wage growth showed no improvement", said Long. This unseen supply was keeping wages lower. Among 205,000 new service-providing jobs, the largest gains were in professional/business services (up 88,000 jobs), trade/transportation/utilities (up 58,000 jobs) and education/health services (up 54,000 jobs), it said.

US financial markets are nearly pricing in a 25 basis point increase in the Fed's benchmark overnight interest rate at that meeting, according to CME FedWatch.

CNN Asks Spelling Champ To Spell 'Covfefe'
After failing to break into the top 50 last year she came back this year with a vengeance and a fool-proof strategy. The young word wizard got some interesting answers when asking the hosts for more background on the word.

  • Champions League: Cristiano Ronaldo walks into final with eyes on Ballon d'Or

    Police in Cardiff warned that tickets sold on the street may not give access to the match after a number were stolen from a hotel. Ten of thousands of fans are descending on the Welsh capital for the match, with limited hotel capacity to accommodate them.
    Surfing world icon Jack O'Neill who pioneered wetsuit dies

    Surfing world icon Jack O'Neill who pioneered wetsuit dies

    Arriving from San Francisco, O'Neill opened his second surf shop in 1959 at the foot of the Santa Cruz Municipal Wharf. In 1955, O'Neill set up a small surf shop at Ocean Beach in San Francisco and sold his revolutionary wetsuit there.

    Ford Seeks To Change Culture At Car Company

    Ford earned more than $25 billion in profits in the past four years, helped largely by the surging USA auto and truck market. Farley, executive vice president and president of Global Markets, Ford Motor Company , effective June 1, 2017.
  • Andy Murray backing himself to beat Juan Martin Del Potro in Paris

    Murray won gold in Rio but Del Potro avenged that defeat in Davis Cup and went on to win the trophy for Argentina. Apparently close to retirement one minute, Klizan recovered from dropping the fourth set to love to win in five.

    Kinder Morgan Inc (KMI) Stake Raised by Parsec Financial Management Inc

    Media headlines about Kinder Morgan (NYSE:KMI) have trended somewhat negative this week, according to AlphaOne Sentiment Analysis. Zacks Investment Research cut shares of Kinder Morgan from a "hold" rating to a "sell" rating in a research note on Wednesday.

    Former Mayor Bloomberg pledges millions to support Paris accord

    Walking away could make other world leaders less willing to work with the USA on other issues, Konisky said. It said the USA has a "moral obligation" to support poorer countries in the effort against climate change.
  • Kyle Busch wins pole for Cup race at Dover

    Kyle Busch wins pole for Cup race at Dover

    Dillon, who won his first Cup race Sunday at Charlotte victor Sunday night for his first Cup victory, will start ninth. Earnhardt is a Washington Redskins fan and had joked he hoped the team would not disown NASCAR's most popular driver.
    Boston Globe photographer barred from covering Tom Brady's Best Buddies event

    Boston Globe photographer barred from covering Tom Brady's Best Buddies event

    He was then ordered to "leave immediately" and a security officer was summoned and the photographer was escorted to his vehicle . The Globe reportedly had a freelancer at the event as well so it looks like they will still get the photographs they wanted.
    Manchester Arena attack: British police make tenth arrest

    Manchester Arena attack: British police make tenth arrest

    On Thursday, Britain observed a one-minute silence at the stroke of 11 memory of those who died in the attack. After their lunch, the two men wrote condolences for the victims of the Manchester attack.
  • Author of MIT climate study says Trump got it wrong

    The Russian president joked that people can now blame the ill effects of global warming on Trump and America. Monier says, "The Paris agreement is certainly a step in the right direction, but it is only a step".
    Cuomo to spend $1.5 billion on clean energy jobs

    Cuomo to spend $1.5 billion on clean energy jobs

    The state expects the investments to result in up to 40,000 clean energy jobs by 2020 and millions of new megawatt hours of power. The withdrawal will align the United States with Syria and Nicaragua as the world's only non-participants in the accord.

    Time for a Chill Pill on Trump's Climate Action

    Paris Mayor Anne Hidalgo on Friday disagreed with Trump's assertion that his decision was a good move for the American economy. It will also help fulfil the Paris agreement reporting requirements so that the world can track the United States' progress.