Financial Review

June Jobs Report


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….US adds 222,000 jobs in June. Unemployment rate rose to 4.3%. Wages up 0.2%. U6 at 8.6%. Reasons for flat wage growth. Fed will stay the course. Financial Review by Sinclair Noe for 07-07-2017 DOW + 94 = 21,414 SPX + 15 = 2425 NAS + 63 = 6153 RUT + 15 = 1415 10 Y + .02 = 2.39% OIL – 1.19 = 44.33 GOLD – 12.80 = 1213.20 The US added 222,000 new jobs in June. The unemployment rate rose from 4.3% to 4.4%. After 3 months of disappointing jobs reports, the June number easily topped expectations of around 175,000. The unemployment rate rose as more people entered the labor market. The labor-force participation rate inched up to 62.8 percent, from 62.7 percent.   Hiring was also stronger in May and April than previously reported. April was revised up from 174,000 to 207,000, and the change for May was revised up from 138,000 to 152,000.  Revisions added 47,000 more jobs to April and May than previously reported. Over the past three months, job gains have averaged 194,000 a month. Over the past 12 months, the economy added 2.24 million jobs.   Hourly pay rose a 0.2% to $26.25 an hour in June. Wages have advanced a modest 2.5% in the past 12 months, up slightly from the prior month but still well below the usual gains at this late stage of an expansion, and below expectation. Companies continue to find ways to restrain labor costs. Average hourly earnings ...
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Financial ReviewBy Sinclair Noe