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August Jobs Report Misses Estimates, Market Reaction Muted
02 September 2017, 01:15 | Gordon Grant
The ranks of the unemployed rose by 151,000 to 7.13 million, while the employment level fell 74,000 to 153.4 million. The unemployment rate for Asians was also higher, though for positive reasons: More people began actively seeking work and were counted as unemployed if they didn't immediately find a job. After-all, it has been a decade since the job market was last at full-employment, and numerous Millennials that joined the workforce during this time don't know how to ask for a raise.
The unemployment rate, which is calculated from a different survey of households, ticked up to 4.4 per cent from a 16-year low of 4.3 per cent in July.
The labor force participation rate held steady in August at 62.9%, while the underemployment rate, which tracks folks out of work and those who would like full-time work but are working part-time, also held steady at 8.6%.
"Job gains occurred in manufacturing, construction, professional and technical services, health care, and mining", the monthly jobs report noted.
Ajay Devgn did not STORM out of TKSS sets in anger But now, Emraan says that he is only focusing on good stories and he did not want to do films just for the sake of doing it. Helmed by Milan Luthria , " Baadshaho " stars Ajay Devgn , Emraan Hashmi , Ileana D'Cruz and Esha Gupta in pivotal roles.
Payroll employment rose a smaller-than-expected 156k in August with 41k worth of downward revisions to June and July gains combined. August was the 83rd straight month of job gains.
Underscoring labor market strength, manufacturing payrolls surged by 36,000 jobs.
Gus Faucher, chief economist at PNC Financial, predicts that job growth in the coming months "will weaken substantially" in the wake of Harvey, only to rebound quickly as workers who were temporarily laid off are rehired. Retailers hired just 800 workers. Wages increased by 3 cents to an average of $26.39 an hour, the government said Friday.
Brady said he was pleased the economy grew by 3 percent of GDP in the second quarter of 2017, and that his committee's efforts to cut taxes could boost American hiring. Over the past year, average hourly earnings have risen by 65 cents, or 2.5%. The rate is still down half a point from a year ago and twice that when including sources of "hidden unemployment" like discouraged workers. Specifically, policymakers have been looking for signs of accelerated wage growth, which has been stuck around 2.5 percent for most of the year.
Apple Will Reportedly Reveal New iPhone on September 12
According to WSJ , the company is also expanding production of the anniversary iPhone in anticipation of release later this year. It's the showcase for the next year in their mobile strategy, which usually involves two new devices to hopefully wow the crowd.
Why Is Houston So Prone to Major Flooding?
All night, as water lapped into their homes, people had been calling for help, they said, but no-one came. Harvey was downgraded from a hurricane to tropical storm by the NHC late on Saturday.
FDA OKs 1st Gene Therapy for Use in US
However, this type of therapy is not without risk of severe side effects as the immune system goes into high gear. The drug Kymriah was developed by Novartis Pharmaceuticals and the University of Pennsylvania .
Corbyn ally rules out Scottish Labour leadership bid
Scottish Labour is beginning the hunt for its fourth leader in less than three years, after Dugdale's shock resignation. Her odds with Ladbrokes now stand at 16/1, making her the betting company's fourth favourite to succeed Kezia Dugdale.