US adds 213,000 jobs; unemployment up to 4 percent

US adds 213,000 jobs; unemployment up to 4 percent

The legal services employment numbers come amid a generally positive jobs report for the USA economy as a whole, which gained 213,000 jobs in June and reportedly outperformed economists' expectations.

The Bureau of Labor Statistics released a report Friday, showing 36,000 manufacturing jobs were created last month.

Payrolls rose 213,000 after an upwardly revised 244,000 advance, Labor Department figures showed on Friday.

Nonetheless, the United States jobs market is incredibly hot right now with yesterday's NFIB jobs survey suggesting that in the small business sector, the proportion of firms looking to hire workers has been higher on only three occasions in the past 45 years.

The unemployment rate rose from an 18-year low of 3.8% to 4% but that was because more people were drawn into the strong labor market.

"Leisure and hospitality" also registered a nice gain in jobs in the latest month, +25,000, led by "food services and drinking places", +16,000.

Wages were being carefully watched by economists for signs of inflationary pressures building in the economy, with average hourly earnings forecast to have risen 0.3% over last month in June and 2.8% over the same month previous year.


The number of employed people in the workforce rose by 102,000, while the number of unemployed jumped by 499,000, suggesting more people entered the labour force and actively sought jobs.

Despite a relatively tight labour market, wage growth remains stuck in the 2 per cent range, with the annual gain of 2.7 per cent unchanged from May. The increase is above the gains required for the accommodation of the population growth and about 20,000 more compared to last year's average during the same period.

The moderate wage growth should allay fears of a strong build-up in inflation pressures.

"The tariffs jumble things about what we should expect to see in the next few months", said Cathy Barrera, chief economist at ZipRecruiter, to the AP.

Minutes of the Fed's June 12-13 policy meeting published on Thursday offered an upbeat assessment of the labor market. The economy has added jobs every month for nearly eight years, the longest streak on record.

The dollar fell to a three-week low against a basket of currencies on the employment report. The U.S. Trade Deficit dropped in May to the lowest level in 19 months as U.S. exports rose to a record level. The drop in yields is making the U.S. Dollar a less attractive investment.

Job growth this year has been faster than in 2017. The magic of rounding off decimal points (from 3.75 percent in May up to 3.8 percent; and from 4.05 percent in June down to 4.0 percent) made the increase in the jobless rate look smaller than it actually was. The department does not count people in the unemployment total unless they are actively seeking work.

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