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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. Paychecks are growing
at a slower rate than in previous expansions. Remaining slack in the job market could be keeping a lid on wage growth, said Cathy Barerra, chief economist at ZipRecruiter. With the
job market expanding and new workers flooding in, some employers may not feel pressure to hike wages for their employees. Every sector of the economy added workers in June except retail,
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. Paychecks are growing
at a slower rate than in previous expansions. Remaining slack in the job market could be keeping a lid on wage growth, said Cathy Barerra, chief economist at ZipRecruiter. With the
job market expanding and new workers flooding in, some employers may not feel pressure to hike wages for their employees. Every sector of the economy added workers in June except retail,
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