English Typing Paragraph
▲
Businesses added 213,000 jobs to their payrolls in June, another strong month of gains. Employers kept hiring even as fears grew of a global trade war.
The economy has added jobs every month for almost eight years, the longest streak on record. The unemployment rate inched up to 4%, the first increase
in almost a year. But even that reflected a healthy economy: It rose because more than 600,000 Americans joined the work force. The job market is so good,
many people who had previously given up looking are starting again. "It's a good thing. There are more people coming into the labor force," said Satyam
Panday, senior economist at S&P Global Ratings. "It indicates that we have more labor market slack." New entrants, including blue-collar workers and teenagers,
shouldn't have much trouble finding a job. There are more openings right now than unemployed workers, leading businesses to expand hiring to historically
disadvantaged groups. About one in five small business owners say finding qualified workers is their biggest business problem, according to the National
Federation of Independent Business. The monthly Labor Department report painted a less sanguine picture for workers' paychecks. Although average hourly
wages grew 2.7% in June from a year ago, they didn't change much from May and came in below economists' expectations. Normally, a tight labor market encourages
employers to pay more to attract and retain workers. Wage growth is barely keeping ahead of inflation, which is firming up as the economy strengthens.
The economy has added jobs every month for almost eight years, the longest streak on record. The unemployment rate inched up to 4%, the first increase
in almost a year. But even that reflected a healthy economy: It rose because more than 600,000 Americans joined the work force. The job market is so good,
many people who had previously given up looking are starting again. "It's a good thing. There are more people coming into the labor force," said Satyam
Panday, senior economist at S&P Global Ratings. "It indicates that we have more labor market slack." New entrants, including blue-collar workers and teenagers,
shouldn't have much trouble finding a job. There are more openings right now than unemployed workers, leading businesses to expand hiring to historically
disadvantaged groups. About one in five small business owners say finding qualified workers is their biggest business problem, according to the National
Federation of Independent Business. The monthly Labor Department report painted a less sanguine picture for workers' paychecks. Although average hourly
wages grew 2.7% in June from a year ago, they didn't change much from May and came in below economists' expectations. Normally, a tight labor market encourages
employers to pay more to attract and retain workers. Wage growth is barely keeping ahead of inflation, which is firming up as the economy strengthens.
Note: Use Down arrow,Enter,page-down to move to Next Chunk, Use page up to Move to Previous Chunk ▼
Chunk Number: 1