The rise in the United States unemployment rate isn’t bad news

Here comes the jobs report...

Bureau of Labor Statistics data showed that the United States added 213,000 jobs, with additions across multiple sectors.

The figures for April and May were also revised up, showing that 37,000 more jobs were created in these months than previously estimated.

The Labor Department said that average hourly earnings rose five cents, or 0.2% in June after increasing 0.3% in May.

The dollar extended losses against the euro and the yen after the employment report.

The unemployment rate rose in June, but that may not be a bad thing.

Amid news of May's record-low unemployment rate, House Minority Leader Nancy Pelosi (D-Calif.) shifted attention to allegedly stagnant wage growth under Trump.

The unemployment rate in Windsor dipped slightly last month, but so too did the labour participation rate. On Thursday, Trump floated the prospect of imposing tariffs on more than $500 billion in Chinese imports. It was 14.5 per cent in May, but 15.5 per cent in June.

Major trade partners, including China, Canada, Mexico and the European Union, have retaliated with their own tariffs.

Yet the tax cuts have done little to generate substantial pay growth.

Manufacturing and health care added the most jobs in June - hospitals added 11,000 jobs over the course of the month - while the retail industry lost 22,000 positions, a disappointing turn from what had been an encouraging boost in May.

Here's what the latest report means for American workers and the U.S economy as we approach the second half of 2018. The factory jobs were concentrated in the automobile sector, which had seen a decline in employment in May after a fire at a parts supplier disrupted production.

Looking at the bigger picture, the best measure of how robust the labor market is (the ratio of those aged 25-54 who have jobs to the overall 25-54 population) returned to cycle highs in June at 79.3% (matching February's level).

Construction payrolls rose by 13,000 last month after rising by 29,000 jobs in May. Manufacturing led the way with an increase of 36,000 jobs, 12,000 of which were in autos.

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