lakeelmoleader.com
lakeelmoleader.com November 22, 2017


Economy adds 156K jobs in August

02 September 2017, 01:12 | Frank Carlson

After hours

After hours

US job growth slowed more than expected in August after two straight months of strong gains, but the pace of increase should be more than sufficient for the Federal Reserve to announce a plan to start trimming its massive bond portfolio.

The Labor Department also revised down earlier estimates for job growth in both June and July by a total of 41,000 jobs, suggesting that the labor market is not quite as strong as it appeared to be a month ago.

Overall, hiring this year has averaged 176,000 a month, close to 2016's average of 187,000.

August's numbers fall slightly short of previous months, and came in below economists' predictions that the economy would add roughly 180,000 jobs.

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. Wage growth typically averages 3.5 percent to 4 percent annually when unemployment is this low.

According to the release, the New England unemployment rate was unchanged at 4.1% in July. Average hourly earnings grew just 0.1% month-over-month, which was less than forecast.

Kezia Dugdale has quit and it is about time too
Rowley is the current deputy leader of the Scottish Labour party, and as such will become the interim leader in Dugdale's absence. Asked about her leadership ambitions in 2014, she replied in characteristically blunt fashion: "I don't want to do this forever".

Goods-producing employment rose by 70,000 jobs during the month, as gains in durable goods manufacturing and construction led by both adding 28,000 jobs in August.

The economy expanded at a healthy 3% annual pace in the April-June quarter, a substantial increase from a weak 1.2% in the first three months of the year.

The number of Americans working part-time for economic reasons fell by 27,000 to 5.26 million. In August, job gains occurred in computer systems design and related services (+8,000).

Policy makers at the central bank are also keeping a close eye on wage growth. But economists expect initial unemployment claims to jump over the next few weeks as many businesses and workers have been immobilized by the devastating storms in Houston and across the Gulf Coast.

As for what all those workers are getting paid - wages remain in a "hold" pattern, with barely a gain seen all year. In August, average hourly earnings of private-sector production and nonsupervisory employees increased by 4 cents to $22.12.



Other News

Trending Now

Mariners acquire Mike Leake from Cardinals
Leake has made 30 or more starts in a season six times and has averaged nearly 200 innings pitched per season in his career. Essentially, with Jean Segura locked up for 5 years, Seattle doesn't have a hole at shortstop.

Total eclipse gives Americans thrills
The moon continued across the sun before departing around 3:52 p.m., for a total eclipse time of around 2 hours and 40 minutes. He said the math is very complicated, but it can be figured out precisely, with the next eclipse to take place in April, 2024.

Notes on Trump's Tax Policy Speech in Missouri
Our nation has not seen comprehensive tax reform in 31 years. "In laying out what he called his principles for a tax overhaul, Mr. Former White House Press Secretary Ari Fleischer immediately noted the lack of empathy following Trump's Tuesday visit to Texas.

Maria Sharapova vs. Sofia Kenin 2017 US Open Pick, Odds, Prediction
Williams is one of the favorites after making it to the final of the Austalian Open and Wimbledon earlier this year. Against world No 59 Timea Babos , the Russian had to scrap her way back into the match on Arthur Ashe Stadium .

Gigi Hadid Is Returning to the Victoria's Secret Fashion Show
Prior to that, models have traveled to Cannes, Los Angeles, and Miami to walk the runway . Last year's musical lineup included Lady Gaga , Bruno Mars and The Weeknd .

Cancer-killing drug approved, but will you be able to afford it?
Most patients with ALL recover through other treatments such as radiation, chemotherapy and stem cells. The FDA based its decision on a clinical trial involving 63 patients with B-cell ALL.

Led strike blocks Daesh buses reaching Deir al-Zor
Lebanon has struggled with a spillover from the conflict next door and has been rocked by persistent bombings tied to the war. The US views Hezbollah as a terrorist organization and US President Donald Trump has condemned Hezbollah as a menace.

United States awards contracts for Mexico border wall prototypes
CBP has said it anticipates building four to eight prototypes and said Thursday it expects construction to begin this fall. The prototypes will be 30 feet (9 meters) tall and about 30 feet wide and will be tested in San Diego, it said.

West Bromwich Albion confirm Grzegorz Krychowiak loan deal
They've also made an addition at full-back, as Gibbs made a permanent move from Arsenal in a move worth seven million pounds. The 27-year-old former Reims and Sevilla man has been capped 45 times by Poland, impressing at Euro 2016.

Real GDP Revised Up to 3.0% Growth in the Second Quarter
The 3% growth rate in the second quarter marked a rebound from 1.2% growth in the first three months of the year. It surged by 3.0 percent in the April-June period, the Commerce Department said in its updated report Wednesday.