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The US Labor Market Thundered in June

08 Jul 2019 Wadsam Afghanistan Business News

Although economists had forecast 160,000 jobs, 224,000 jobs were created in the USA in June. This eradicated the idea that America’s economy was heading for a recession.

The business sector added 51,000 jobs to the economy, with

healthcare, transportation, and warehousing being major contributing factors of

employment.

Jobs rose in an exponential rate in June but the wage growth

rate only increased by 0.2%.

Since the economy is doing so well, the Fed might lower

interest rates after their meeting in 30th July.

Employment rates have increased gradually and even though

the US has been churning poor manufacturing data, it is possible that the Fed

will loosen policy later and decrease interest rates much later until

September, according to Andrew Hunter, a senior US economist.  

The post The US Labor Market Thundered in June appeared first on Wadsam.

Original Link: https://wadsam.com/international-business-news/the-us-labor-market-thundered-in-june/

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