What to watch for in the June jobs report

David McNew  Reuters

Meanwhile, there was little change in the average work week while average hourly earnings once again increased by 4 cents per hour.

US job growth surged more than expected in June, keeping the Federal Reserve on course for a third interest rate hike this year, despite slow wage gains.

Wages once again grew only marginally in June, rising 2.5% from a year ago and little changed from prior months. But the automobile sector lost a further 1,300 jobs as slowing sales and bloated inventories force manufacturers to cut back on production.

Last month, economists anxious that hiring would slow as employers struggled to fill jobs from a dwindling supply of unemployed workers. "Really great numbers on jobs & the economy!" he wrote. Maybe there is some seasonal adjustment issues at play affecting summer student hirings, because kids aged 16 to 19 saw a jobs surge of 203,000 last month. In May Springfield's unemployment rate rose to 7.6 percent.

Health care employment is also in a growth mode, though not quite as vigorously as a year ago.

"If you are going to describe today's report as 'strong, ' my advice would be to refrain from telling that to men in the prime working age 25-to-54-year-old age cohort because their employment pool shrunk 21,000 in June and this came atop a 92,000 falloff in May".

The labour force participation rate rose a tenth of a point to 62.8 per cent, a time when many U.S. students and new college graduates began hunting for summer work.

Dawson in Lord's Test XI
His record is very strong. "I think it will be an exciting series to watch", he concluded. We are training this (Tuesday) afternoon and tomorrow and I am really confident.

United States employment rose by more than expected last month, but wage growth remained subdued, latest figures show. The unemployment number last month was the lowest it's been in a decade. It was followed by social assistance, financial activities, and mining.

Sterling fell to a more than one-week low of $1.2871 and was last down 0.7 percent at $1.2883.

The pace of job gains remains relatively strong, almost seven years into the current economic expansion.

April's nonfarm payrolls were revised up to 207,000 and May's tally up to 152,000, a net increase of 47,000.

The increase of 222,000 jobs is a positive signal, but investors are keeping a close eye on wages, Pappalardo added. Over the past 3 months, job gains have averaged 194,000 per month. In June, average hourly earnings of private-sector production and nonsupervisory employees increased by 4 cents to $22.03.

In a report to Congress on Friday, the Fed said its policymakers expect to raise short-term rates once more this year and three times in 2018.

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