Tag: US Economy

The U.S. economy added 128,000 jobs in October, while the unemployment rate rose to 3.6%, according to Department of Labor data released Friday.

by Mary Margaret Olohan   The U.S. economy added 224,000 jobs in June, while the unemployment rate slightly increased to 3.7 percent, according to Department of Labor data released Friday. 224,000 jobs were added in June, according to the Bureau of Labor Statistics report, about double the number economists predicted. The number of adults working or looking for work remained steady at 6 million, according to the Labor Department. The Labor Department reports that employment growth has averaged 172,000 per month thus far this year, compared to 223,000 a month in 2018. Economists predicted the economy would add 165,000 jobs and the unemployment rate would remain at about 3.6 percent, according to The Wall Street Journal. The June figures come on the heels of May’s job report that revealed unemployment steadily showing the lowest numbers in 50 years. The U.S. economy added 75,000 jobs in May, while the unemployment rate remained at 3.6 percent. Economists had predicted 180,000 jobs would be added and that wage growth would rise to about 3.2 percent. Job growth has come back strong after February when just 33,000 jobs were added. The unemployment rate has held steady between 4 percent and 3.7 percent for more…

Hiring tumbled in February, with U.S. employers adding just 20,000 jobs, the smallest monthly gain in nearly a year and a half. The slowdown in hiring, though, might have been depressed by harsh winter weather and the partial shutdown of the government. Last month’s weak gain came after employers had added a blockbuster 311,000 jobs in January, the most in nearly a year. Over the past three months, job growth has averaged a solid 186,000, enough to lower the unemployment rate over time. And despite the tepid pace of hiring in February, the government’s monthly jobs report Friday included some positive signs: Average hourly pay last month rose 3.4 percent from a year earlier _ the sharpest year-over-year increase in a decade. The unemployment rate also fell to 3.8 percent, near the lowest level in five decades, from 4 percent in January. Unseasonably cold weather, which affects such industries as construction and restaurants, afflicted some areas of the country in February. And the 35-day government shutdown that ended in late January likely affected the calculation of job growth. Still, the hiring pullback comes amid signs that growth is slowing because of a weaker global economy, a trade war between the…