Hispanic Unemployment Falls to LOWEST LEVEL in US HISTORY — RECORD SMASHED

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Many analysts read the higher jobless rate as an encouraging sign because the influx of almost 76,000 job seekers back into the labour market last month suggested more people are optimistic they can find work thanks to the hotter economy.

On the same day that the Trump administration began imposing tariffs on $34 billion in Chinese imports and China retaliated with their own tariffs, the job gain showed that the 9-year old US economic expansion - the second-longest on record - remains on solid ground for the moment. Wage growth remained sluggish, however, and was effectively erased by inflation: average hourly earnings rose just 0.2 percent to $26.98, putting wages up 2.7 percent over the same month past year, the same as the 2.7 percent rise in the Consumer Price Index.

The moderate wage growth should allay fears of a strong build-up in inflation pressures. Normally, a tight labor market encourages employers to pay more to attract and retain workers. The figures for the previous two months were also revised higher.

Gross domestic product estimates for the April-June period are above a 4 percent annualized rate, double the 2.0 per cent pace logged in the first quarter.

But the Trump administration's "America First" trade policy, which has tipped the United States into a trade war with China poses a risk to the labor market and economy.

The latest jobs report, which also contained weaker data points, arrived less than a week before the Bank of Canada's upcoming interest-rate decision next Wednesday.

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He still doesn't think guys like him should be held accountable for what they say or do. "To the fake Pocahontas I won't". Donald Trump speaks during a campaign rally at Four Seasons Arena on July 5, 2018 in Great Falls, Montana.

Every sector of the economy added workers in June except retail, which lost 22,000 jobs to offset gains in May. But retailers shed 21,600 jobs, with the losses concentrated at general merchandise stores.

Signs of strength have helped bolster hiring despite the difficulty many employers say they're having in finding enough qualified workers to fill jobs. Housing starts have climbed 11 percent so far this year.

Whether the unemployment rate jumped by 0.2 of a percentage point or 0.3, both were good signs for the economy. Huh? President Donald Trump's tax cuts have provided a dose of stimulus this year, but the benefits have been tilted significantly toward wealthy individuals and corporations.

The previous record was 4.8% back in 1973.

The U.S. economy faces potential drags going forward, including escalating trade disputes with major trading partners such as the European Union, China, Canada and Mexico.

All those unemployed workers came from outside the labor force. Trump has spoken about slapping tariffs on imported cars, trucks and auto parts, which General Motors has warned could hurt the USA auto industry and drive up vehicle prices. Manufacturing led the way with an increase of 36,000 jobs, 12,000 of which were in autos.

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