Jobless rate for Latino Americans fell to record low in June

On the negative side, the unemployment rate for black workers increased 0.6 percentage points to 6.5 percent from the record low hit in May.

The unemployment rate ticked up slightly to 4 percent as some people who had been on the sidelines moved back into the labor force. In spite of healthy job growth, wage growth is especially weak in manufacturing, rising just 1.7 percent over the a year ago. The participation rate, or share of working-age people in the labor force, increased to 62.9 percent from 62.7 percent the prior month. Neither the BLS report nor any of the establishment press outlets have sought to provide any explanation for this trend, which runs contrary to the commonly-accepted capitalist economic principle that a tighter labor market will result in higher wages as employers compete against one another for workers. On the same day as the release of June's jobs report, the USA and China are imposing duties on more than $30 billion-worth of each other's goods.

Following the report, USA stock turned positive after having been in red figures ahead of the report. Over the past year, it has added more than a half-million jobs.

In its report Friday, the government revised up its estimate of job growth in May and April by a combined 37,000.

Mining employment continues to trend upward as the US adds thousands of jobs in June.

Washington is also engaged in fights with other major trade partners, including Canada, Mexico and the European Union after President Donald Trump imposed tariffs on steel and aluminum imports.

"The tariffs jumble things about what we should expect to see in the next few months", said Cathy Barrera, chief economist at ZipRecruiter, the online jobs marketplace.

Construction payrolls rose by 13,000 last month after increasing by 29,000 jobs in May. The average hourly wage has increased by just 2.7 percent in the a year ago.

With such an outlook, the Federal Reserve would most likely shy away from any abrupt funds rate increase, which would benefit markets that rise when bond rates are low. An acceleration of this rate would have shown that employers were indeed paying up for the skilled workers they say are in decreasing supply. The unemployment rate rose to 4 percent. However, the official figures are yet to be released till later this month.

Still, if the additional jobs and that sort of wage growth don't make you smile, the rising unemployment rate should.

Service providers boosted payrolls by 149,000, led by a 54,000 gain in education and health services, and 50,000 in professional and business services. Asian unemployment increased to 3.2 percent from an extraordinary 2.1 percent in May.

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