US employers add modest 138K jobs; rate dips to 4.3 percent
US employers add modest 138K jobs; rate dips to 4.3 percent
What to expect from the US jobs report
03 June, 2017, 02:02
The economy added just 138,000 jobs, which was still high enough to help drop the unemployment rate to a 16 year-low of 4.3 percent. That's been the case in recent months, but revisions to past reports also suggests that the labor market may not be as strong as it once seemed.
"Disappointing", says Lynn Reaser, an economist at Point Loma Nazarene University in California. Almost 40 percent of the job cuts were announced by Ford Motor Co (F.N), according to the report.
US job growth continued in May with unemployment hitting its lowest level in 16 years, likely paving the way for the Federal Reserve to hike interest rates again in a couple of weeks. The Fed is expected to increase rates again in June, which would only be the fourthrate hike since the Great Recession.
Other economists suggest that meaningful pay gains tend to occur after a lag and that the low 4.3 percent unemployment rate will lead to higher wages over the next 12 to 18 months.
"Among the unemployed, the number of job losers and persons who completed temporary jobs declined by 211,000 to 3.3 million in May", according to the BLS report.
There was some good news in the employment report. Average wages rose 0.2% in May to $26.22 an hour, the government said Friday.
Are employers starting to run out of workers to hire?
Experts were split on the report. Average monthly job growth so far this year is now 162,000, compared with 178,000 in 2016. Reports for previous months were revised downward.
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In his previous outing, deGrom (4-2) threw 118 pitches and became the first Mets starter this year to reach the ninth inning. NY had been trying to stretch a winning streak to four for the first time early April. "Tonight is on me", deGrom said .
One unusual characteristic of today's job market is that the unemployment rate keeps falling even as hiring has slowed. Headquartered in Oklahoma City, the worldwide staffing company has more than 770 franchises in the U.S., Canada and South Africa. "It's just part of the ups and downs from month to month". It plans to open 47 franchises before year's end, adding more than 400 jobs.
Paul Diggle, senior economist at Aberdeen Asset Management, said the weak job reading was unexpected but "isn't a disaster".
However, a litany of factors, such as consumer spending and interest rates, influence hiring decisions. North said. The job creation at this point in the recovery is still solid.
The slowing job growth contrasts with the euphoric observations of President Donald Trump, who in a speech Thursday took credit for "our tremendous, absolutely tremendous economic progress" since his election. Trump said the deal would have been bad for American workers.
Mining added 6,600 jobs in May, with 7,900 jobs added in support activities.
But manufacturers, retailers and governments lost workers last month.
Even with the figures, economic growth is likely to rebound this quarter and the United States is near full employment, helping explain why Federal Reserve policy makers are expected to raise interest rates when they meet on 13-14 June.
The MSCI world equity index .MIWD00000PUS , which tracks shares in 45 nations, rose 2.41 points or 0.52 percent, to 466.2. The report comes ahead of the Federal Reserve's June meeting, where it is expected to raise interest rates.
China is pushing for global recognition of the C919, which does not yet have certification from European and US regulators. Russian Federation joined the chorus speaking out in favour of the climate accord.
Ramirez (3-0, 2.92 ERA) will make his fourth start of the season roughly 24 hours after finishing out his 12th relief appearance. Danny Farquhar served up a two-out, three-run homer to Rangers shortstop Elvis Andrus in the seventh to square the game up, 5-5.
The announcement coincided with news that Scott signed the budget 2017-18 budget, vetoing $410 million in legislative projects. The budget, however, allows Enterprise Florida to maintain its worldwide offices and continue foreign trade missions.
Despite that, most experts are skeptical of Trump's chances for achieving a peace deal that had eluded other US presidents. Department of State lose half of its funding for overseas facilities if the Embassy was not moved to Jerusalem.
Trump received a warm welcome in Tel Aviv after becoming the first U.S. president to include Israel on his maiden overseas trip. But there was little public evidence of prodding by Trump or his aides of either side to make more substantial concessions.
Defensive back Maurice Smith received a waiver from the conference to play immediately at Georgia after a public battle. That's not going to stop me from calling Friday's graduate transfer tweak the Malik Zaire Rule.
But by putting his own spin on Kanye West's "Heartless", Allen won over fans and came out on top, besting frontrunner Lambert. The 12-year-old singing ventriloquist absolutely crushed it Tuesday on the premiere of NBC's " America's Got Talent ".
The track itself brings Arcade Fire to the full disco phase of its career, a transition it began on 2013's Reflektor . The show is part of the Infinite Content Tour in support of Arcade Fire's forthcoming fifth album (due out July 28).
After having difficulty finding the strike zone early on, Jays starter Bolsinger settled down for a solid 5.1 innings of work. He was replaced by Danny Barnes , who gave up a home run to short stop Zack Cozart , his second of the night.
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Rinne entered the game leading the playoffs in wins (12) and goals-against average (1.83) while posting a.934 save percentage. The Penguins took all four games from a Blackhawks team that had won 11 straight games going into the Stanley Cup Final.
England beat Bangladesh in Champions Trophy opener
Group A consist of Australia, New Zealand, Bangladesh and England while Group B has India, Pakistan, Sri Lanka and South Africa. He became the third player to score 10 or more hundreds for England after Marcus Trescothick (12) and Eoin Morgan (10).
LIGO detects gravitational waves for third time
Virgo and the LIGO Scientific Community work together in many areas and have an agreement on the exchange of data . For example, LIGO has a good chance of spotting its first neutron star merger during the third run, Landry said.
Philippine army hits own troops, kills 10 in Marwai City
Philippine Defense Secretary Delfin Lorenzana told media that "a group of our military armed men were hit by our own airstrikes". Eduardo Ano, the military chief of staff, said of the gunmen, speaking at a hospital where injured soldiers were being treated.
New Mexico Dem official posts support for bloody Trump video
Martinez spokesman Michael Lonergan said Thursday that Tim Crone crossed the line when he applauded and encouraged "a sick stunt". Griffin quickly apologized for the image, but has since lost a sponsorship and been removed from CNN's New Year's special.
British police arrest another man in Manchester attack probe
Abedi's family remained a focus, too, with a brother in England, his father and another brother in Libya among those detained. Police say they have "got our hands around" a large part of the network connected to Manchester Arena bombing Salman Abedi .
NASA spacecraft will aim straight for sun next year
His discovery of solar wind has essentially changed our understanding of stars and how they interact with the space around them. The plan for the unmanned spacecraft is to orbit within 3.9 million miles (6.3 million kilometers) of the sun's surface.