US Added 138000 Jobs in May, Unemployment Falls to 4.3%
US Added 138000 Jobs in May, Unemployment Falls to 4.3%
03 Junio, 2017, 22:11
Beyond retail, it is much too soon to declare the job market in trouble.
USA employers pulled back on hiring in May, adding only 138,000 jobs, but that was still enough to help keep pushing unemployment lower.
S&P 500 futures pared gains after the monthly USA jobs report showed weaker-than-expected hiring and wage growth.
"More than 600,000 private-sector jobs have been created since Inauguration Day", he said. That is far lower than previously reported, but sufficient to provide jobs to a growing population, if not to draw in dropouts. The U-3 headline unemployment rate dropped slightly from 4.4% to 4.3%, which is the lowest it has been since 2001. The highest unemployment rate was in El Centro, Calif., at 19.2 percent.
The labor force participation rate, or the share of working-age Americans who are employed or at least looking for a job, could have risen last month as college graduates enter the labor force.
Federal Reserve policymakers are watching the jobs data closely, particularly for wage increases. Americans are earning more as well as wages continued to pick up.
The report also showed average hourly earnings rose 0.2% in May, keeping the year-ago pace of wage growth at 2.5%.
Experts were split on the report.
Economists surveyed by Reuters expected nonfarm payrolls to grow by 185,000 and the unemployment rate to hold steady at 4.4 percent.
Others say May's sluggish job gains don't tell the whole story.
Now the reveal. I was, in part, wondering how white unemployment in recession months compared to unemployment in non-recession months. It plans to open 47 franchises before year's end, adding 400 jobs.
Republican President Donald Trump, who inherited a strong job market from the Obama administration, has vowed to sharply boost economic growth and further strengthen the labor market by slashing taxes and cutting regulation.
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However, a litany of factors, such as consumer spending and interest rates, influence hiring decisions.
Meanwhile, the National Federation of Independent Business (NFIB) reported higher job creation among its members in May, according to the NFIB Jobs Report released June 1.
"Firms are adding workers, creating new positions, and increasing compensation to attract better applicants and keep their best performers", said Chief Economist Bill Dunkelberg.
Mining added 7,000 jobs in May. Manufacturing lost 1,000 jobs and construction gained 11,000 new employees.
Market analysts widely expectedthe Fed to raise rate this month on the solid job market data.
Duncan still believes the Fed will raise rates at the June 13-14 meeting, although a quarter-percent hike in the federal funds rate can no longer be viewed as a certainty. "The spring and summer buying season already produces a seasonal uptick in home prices, so the last thing the market needs is an interest rate hike corresponding with the beginning of summer".
"While the message was a little muddied today, the evidence generally suggests the labor market is cyclically tightening, and the Fed will need to continue to lean against that", said Michael Feroli, an economist at JPMorgan in NY.
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