The rise in the United States unemployment rate isn’t bad news

Economy adds 213K jobs in June unemployment ticks up to 4 percent

"A higher unemployment rate coinciding with a strong jobs gain in June is the best of possible worlds for Canada, with more of us working, but perhaps a bit more room for that to continue without triggering an inflation spike", Avery Shenfeld, chief economist at CIBC Capital Markets, wrote in a note to clients. Hourly wages increased by 0.2 percent for an average annual increase of 2.7 percent, lower than analysts had hoped.

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

US job growth increased more than expected in June as manufacturers stepped up hiring, but steady wage gains pointed to moderate inflation pressures that should keep the Federal Reserve on a path of gradual interest rate increases.

The participation rate - the percentage of the working age population employed or actively looking for work - stayed stable at 67.5 per cent.

The labour force participation rate increased to 65.5 per cent in June, from 65.3 per cent a month earlier, reflecting in large part higher youth participation The number of people aged 15 to 24 in the labour force increased by 27,400, raising the participation rate for that group to 64 per cent from 63.4 per cent The monthly employment gain was driven by part-time workers, which were 22,700 higher for the month.

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She added: "As with any protest, we are a free and open democracy and we believe in the right to peaceful protest". The couple will spend Friday night at the US Ambassador's London residence Winfield House, in Regent's Park.


With a record 6.7 million unfilled jobs in April, economists are optimistic that wage growth will accelerate later this year.

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

The latest jobs figures arrived less than a week before the Bank of Canada's next interest-rate decision.

The goods-producing sector added 46,600 positions in June thanks to job-creation boosts in construction, natural resources and manufacturing.

In its report Friday, the government revised up its estimate of job growth in May and April by a combined 37,000. It's the 93rd consecutive month of job gains, an impressively long and strong stretch of growth.

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The former director of the Central Intelligence Agency added that he expected North Korea to be "ready to do the same". Also high on the agenda is the issue of the remains of United States soldiers missing from the 1950-53 Korean War.


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. It was 14.5 per cent in May, but 15.5 per cent in June.

Economists have warned the tit-for-tat import tariffs could disrupt the supply chain, undermine business investment and raise prices for consumers, and wipe out the stimulus from a $1.5 trillion tax cut package that came into effect in January.

U.S. Treasury yields were also slightly lower after the report, with the 10-year moving to around 2.81% after the numbers from 2.82% ahead of the report, with two-year yields falling to 2.53% from 2.54%.

The economy also faces a substantial threat from the Trump administration's trade war with China and from other, ongoing trade disputes with USA allies, including Canada and Europe. On Thursday, Trump floated the prospect of imposing tariffs on more than $500 billion in Chinese imports.

Government payrolls increased by 11,000 jobs in June.

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For his part, trump's advisors tried to explain to the President why military intervention in Venezuela may adversely affect US. Santos, a big backer of US attempts to isolate Maduro, said an invasion would have zero support in the region.


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