US job growth takes breather in July

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Employers added 157,000 jobs last month, a modest gain, the Labor Department said Friday.

Hispanic Americans enjoyed a record-low unemployment rate of 4.5 percent in July, breaking the record of 4.6 percent set just the month before.

U.S. employment has risen for 94 consecutive months, the longest jobs-expansion streak on record.

Economists have warned, however, that the tit-for-tat import duties threatened or imposed by the United States and China, which have unsettled financial markets, could undercut manufacturing through disruptions to the supply chain and put a brake on the strong economic growth.

This puts the average for the last 12 months at 200,000, higher than the 185,000 in the previous 12 months, a rare.

As The New York Times noted, average hourly earnings also saw an uptick of seven cents.

The relative consistency in jobs growth allows economist to turn their attention to wage growth, a key reading for policy makers looking to keep inflation to the Federal Reserve's 2% target.

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Employers added an average of 224,000 new workers in the first six months of this year, a faster pace than in 2017. That kept the annual increase in wages at 2.7 percent in July.

There have also been concerns that the trade tensions could dampen business confidence and lead companies to shelve spending and hiring plans.

She'll be overseeing the National Council for the American Worker, a cross-department body launched in July by President Trump to help train and retrain Americans for the available jobs.

Mocuta added that the dip in the unemployment rate without any corresponding upward pressure on wages suggested more slack in the labor market than the unemployment rate might otherwise suggest.

Although the labor force participation rate was unchanged at 62.9%, it increased for the prime working-age cohort (25-54 years).

In a VOA interview via Skype, Cramer says so far, there is little evidence that Washington's many trade disputes have hurt employment, but that could change if the bickering goes on for "six or eight months". In comparison, nondepositories employed 339,600 people 12 months earlier and had a downwardly revised 341,200 workers on their payrolls in May of this year. Many firms appear to be giving part-time workers longer hours.

Hiring in the goods-producing sector rose by 52,000, in line with its strong recent trend, while job growth in the service-providing sector moderated to 118,000 from outsized 182,000 and 204,000 gains in June and May, respectively.

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