Sunday, 16 December, 2018

Jobless rates up across racial groups in August

Unemployment rate up as 156K jobs added in August August Jobs Report: Unemployment Rate Remains At Historic Low
Kelvin Reese | 02 September, 2017, 01:13

Brady's statement on Friday morning was a rare one from Republicans on the jobs report, as GOP lawmakers - who a year ago were quick to demand greater job creation from the Obama Administration - were mainly silent about the latest figures from the Trump Administration. Over the past year, average hourly earnings have risen by 65 cents, or 2.5%.

Friday's report, then, does not show a change in character for the US labor market, which still remains robust. The average hourly wage crept up only a few pennies to $26.39, but a drop in the length of the average work week means the average worker's weekly paycheck actually got slightly smaller. There are further potential pitfalls ahead, as Washington faces a showdown over the debt ceiling, a statutory limit on how much money the USA can borrow that can only be increased by Congress, which could rattle markets, and delay action by the Fed.

The August jobs report showed that roughly the same proportion of people last month as in July either had a job or were looking for one.

"A patient Fed combined with modest economic growth and strong earnings growth has been a recipe for solid stock returns, which we think will continue", says Kate Warne of Edward Jones.

Robert Mueller teams with NY attorney general in investigation of Trump aide
The president has repeatedly called it a "witch hunt", has denied any collusion with Moscow and has been critical of Mueller. But leaning on Schneiderman's office to bring charges against the former campaign chairman could force his cooperation.

White House Says Decision on DACA Program 'Has Not Been Finalized'
The DACA program allows qualified immigrants temporary status that permits them to stay, work and gain access to other benefits. In my work I've met many DACA students, worked with them, and admire their commitment to be productive members of society.

USA company to update pacemaker software against hacking risks
Department of Homeland Security , compromising the security of these devices would require a highly complex set of circumstances". In some cases, the risks may necessitate the performance of the procedure at a facility with a temporary pacemaker generator.

In August, construction employment rose by 28,000, after showing little change over the prior 5 months. Professional and business services saw the biggest gains in August, with payrolls in this sector rising by 40,000.

"The Fed has to be second-guessing December", said John Silvia, chief economist at Wells Fargo. The labor force is growing at most by 100,000 per month, or half the growth in jobs. The unemployment rate rose to 4.4% from 4.3%.

Harvey's impact could show up in the September jobs report if many businesses in the region are still closed two weeks from now, when they collect this month's data. The participation rate has tumbled from 66% over the past decade, but some of that decline reflects an ageing United States population that is retiring and lowers the participation rate. The manufacturing sector, which lost more than 2 million jobs in the last recession, added 36,000 positions. Retailers hired just 800 workers.

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