5 important takeaways from the June jobs report

5 important takeaways from the June jobs report

Wages continued their modest rise, increasing 2.7 percent from the year before.

The job growth wasn't enough to keep the unemployment rate from rising from 3.8 percent to 4 percent, the government said Friday.

Before December 2017, the unemployment rate in the region never dipped below six per cent since comparable statistics started being recorded.

The local jobless rate increased to 5.5 per cent in June. The labor force participation rate, or the number of people who are actively employed or looking for work, rose to 62.9% from 62.7%.

Manufacturers added 36,000 jobs last month; the education and health sector added 54,000.

Last month, U.S. employers added 213,000 jobs, exceeding already high expectations of 195,000.

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Meanwhile, the revisions for the two previous months - April and May - looked encouraging, with a combined gain of 37,000 jobs as compared to previous BLS reports.

Mara Fortin, who owns seven Nothing Bundt Cake stores in the San Diego area, said she raised pay last month to $13 an hour from $11.50. Over the past three months, the economy has produced a robust average monthly job gain of 211,000.

Gross domestic product estimates for the April-June period are above a 4 per cent annualized rate, double the 2.0 per cent pace logged in the first quarter.

A broader measure of unemployment, which includes people who want to work but have given up searching and those working part-time because they can not find full-time employment, rose to 7.8 per cent last month from a 17-year low of 7.6 per cent in May.

Here's what the latest report means for American workers and the U.S economy as we approach the second half of 2018.

Businesses hired robustly in June despite threats of trade tensions. Construction added 13,000 jobs, while retail lost 22,000 - nearly all the jobs it had gained the month before.

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