New Brunswick's economy bled 1,100 jobs in June, pushed unemployment rate up

Here comes the jobs report...

The U.S. economy added 213,000 jobs in June, as unemployment rose to 4 percent

This was most due to a 1 percentage point rise in the unemployment rate for black women, although their EPOP also rose by 0.6 percentage points. What this tells us is that hundreds of thousands of people started looking for work. Only retail showed a significant loss while many other sectors remained largely unchanged. This showed a slight improvement in those who chose to go into the workforce.

One area that remains sluggish is wage growth, which grew 2.7% when compared with the same period previous year.

The organization's latest numbers show Alberta's capital had an unemployment rate of 6.6 per cent in June, up 0.1 per cent from the previous month.

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This follows a survey in June, which showed record-high optimism among USA manufacturers.

The June jobs is out and it's a beat. Many estimates for growth in the second quarter are bouncing above 4 percent.

Construction payrolls rose by 13,000 last month after rising by 29,000 jobs in May. The number of people involuntarily working part-time fell by 205,000, hitting a new low for the recovery. And many consumers displayed their confidence in the economy by kicking off the summer with a new auto purchase.

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"As the labor market tightens we should see more businesses raisings wages, offering training, and hiring workers from all corners of the labor market", she added. "There were some people who weren't participating in the labor force who are now being encouraged to return, so I'm not concerned about the uptick in unemployment".

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 past year. That belief has been one justification they've been using for being cautious on rate hikes. Trump has suggested that more than $500 billion worth of Chinese imports could be taxed in his drive to force Beijing to reform its trade policies, which he insists have unfairly victimized the United States.

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