Why higher unemployment signals a strengthening economy

It was the same scenario in the United States, where the economy added 213,000 jobs last month but the unemployment rate rose to 4 per cent from 3.8 per cent because of growth in the labour force.

Manufacturers hired 36,000 workers in June, the most in six months, adding to the 19,000 jobs created in May. That kept the annual increase in average hourly earnings at 2.7 per cent.

The job growth shows the labour market shrugging off worries about a slowdown triggered by trade fights or rising borrowing costs.

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.

While the unemployment rate slightly increased in June, the number of employed Americans increased to a record high.

As IJR previously reported, the economy saw many milestones during Trump's presidency.

Looking at the bigger picture, the best measure of how robust the labor market is (the ratio of those aged 25-54 who have jobs to the overall 25-54 population) returned to cycle highs in June at 79.3% (matching February's level). In other words, only longer-term unemployed workers drove the higher unemployment rate.

Democrats must fight Trump's supreme court pick tooth and nail
All in all, Kethledge appears to be the same kind of conventional conservative that the other people on the President's list . On CNN's "State of the Union", Maine's senior senator said she would support nominees who consider Roe v.

The broader US economy appears sturdy. It was 14.5 per cent in May, but 15.5 per cent in June. The labor force participation rate is still hovering near historic lows. But retailers shed 21,600 jobs, with the losses concentrated at general merchandise stores. Housing starts have climbed 11 percent so far this year.

Though economic growth appears to be solid, the gains have been spread unevenly.

The previous record was 4.8% back in 1973.

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.

The U.S. economy faces potential drags going forward, including escalating trade disputes with major trading partners such as the European Union, China, Canada and Mexico.

Trump has also spoken about slapping tariffs on imported cars, trucks and auto parts, which General Motors has warned could hurt the US auto industry and drive up vehicle prices. Automakers added 12,000 jobs in June.

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