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Engels

Solid US job numbers mask weakness underneath

USA - The United States economy has added 147,000 jobs in June, beating analyst expectations, as the labour market remains stable despite economic uncertainty driven by President Donald Trump’s policies.

Times of Suriname

The Department of Labor released the numbers on Thursday. The data, which was released a day early because the Independence Day holiday falls on Friday, showed the unemployment rate ticked down from May by 0.1 percentage points to 4.1 percent. The average workweek was shorter last month, suggesting businesses were probably reducing hours amid rising economic headwinds. Government jobs at the state and local levels led the gains, adding 73,000 positions in June. State governments added 47,000 jobs, led by 40,000 in education. Local government jobs grew by 23,000. A downward turn continues at the federal level with a loss of 7,000 jobs, which accounts for 69,000 jobs lost since January. Gains in government jobs were followed by the healthcare sector, which added 39,000 jobs. Social assistance employment increased by 19,000 jobs. “On net, it was a good report,’’ Sarah House, senior economist with Wells Fargo, told The Associated Press news agency. “But when you dig underneath the surface, it was another jobs report that didn’t look quite as good as first meets the eye.’’ (Al Jazeera)

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