The US unemployment rate was unchanged at 3.6 per cent as the pool of available workers shrank, and wage growth remained firm.
| US employers added more jobs in June than forecast and the unemployment rate held near a five-decade low, signs of both strong demand and a tight labour market that will keep Federal Reserve officials tilted toward another jumbo interest-rate hike.
“The labour market is very hot,” Jeffrey Rosenberg, senior portfolio manager for systematic multi-strategy at BlackRock, said on Bloomberg Television. “The Fed has to do more.” While a number of companies did announce plans in June to cut staffing levels, layoffs have so far been largely concentrated in technology and interest-rate sensitive sectors like housing. The report showed the smallest gain in financial activities payrolls in a year.The labour force participation rate -- the share of the population that is working or looking for work -- slipped to 62.2 per cent, and the rate for workers ages 25-54 declined to a four-month low of 82.3 per cent.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US gunmakers summoned to Congress to justify soaring profits from gun violence – liveTop Democrats ‘deeply troubled that gun manufacturers continue to profit from the sale of weapons of war’ – follow all the latest news
Read more »
Americans lose faith in the US supreme courtThe US supreme court has struck down the constitutional right to an abortion, which will affect the lives of millions of Americans for decades to come. Jonathan Freedland and Jill Filipovic discuss whether it’s still possible for a deeply divided court of nine judges to keep the promise to the American people of ‘equal protection’, and what happens if it can’t
Read more »
Dossier reveals talking points to defend Barilaro’s US jobThe dossier documenting Mr Barilaro’s appointment to the prestigious US trade role released on Thursday shows how Investment NSW anticipated stiff questioning on a decision to hand the plum role to the former MP.
Read more »
US lawsuit against Greensill Capital dismissedThe supply chain finance group and its founder Lex Greensill have avoided responding to allegations by former client Bluestone Resources after the US coal miner dropped its lawsuit.
Read more »
US ambassador Caroline Kennedy to arrive in Australia on July 22Sky News can exclusively reveal the new US ambassador to Australia Caroline Kennedy - the daughter of former President John F. Kennedy - will touch down in Sydney on July 22 before calling Canberra home. abcrothers
Read more »
New US Ambassador Caroline Kennedy to arrive in Australia on July 22
Read more »