Reprinted from The New York Times by Reuters on July 7, 2017.
US job growth surged more than expected in June and employers increased hours for workers, signs of labor market strength that could keep the Federal Reserve on course for a third interest rate increase this year despite benign inflation.
Non-farm payrolls jumped by 222,000 jobs last month, the Labor Department said on Friday, beating economists’ expectations for a 179,000 gain. Data for April and May was revised show 47,000 more jobs created than previously reported.
US stocks gained on the news, with the S&P 500 futures up 0.25 percent after being flat just before the numbers were released. …
Reprinted from The New York Times by Reuters on July 6, 2017.
US private employers hired fewer workers than expected in June and applications for unemployment benefits last week increased for a third straight week, pointing to some loss of momentum in job growth as the labor market nears full employment.
Those signs were also evident in another report on Thursday showing growth in services industry employment slowing in June even as the sector, which accounts for more than two-thirds of the US economy, continued to expand at a healthy clip.
The moderation in job gains likely reflects difficulties by employers finding suitable workers amid an unemployment rate that is at a 16-year low. Even so, the labor market remains strong and tightening conditions could allow the Federal Reserve to raise interest rates again later this year. …