Tuesday, 16 October, 2018

Thomas unemployment rate falls to 5.7%, its third straight decline

Robust job growth in April provides some relief to President Donald Trump after the weak economic data in the early part of the year Robust job growth in April provides some relief to President Donald Trump after the weak economic data in the early part of the year
Laurie Berry | 18 May, 2017, 12:01

United States non-farm payrolls increased by 211,000 jobs last month, boosted mostly by hiring in the hospitality and healthcare sectors, bringing the country's unemployment rate down to 4.4 per cent, the lowest since May 2007. The central bank is expected to raise interest rates when it meets again in June. In January as well as February, unseasonably warm weather brought forward the hiring in sectors like retail, leisure and hospitality and construction with job gains for those months topping 200,000 each month. At 4.4 percent, the rate is now lower than the level the Federal Reserve targeted for the long term. The unemployment rate unexpectedly fell to 6.5 percent from 6.7 percent, the lowest since October 2008.

In Ontario, employment held steady in April.

The official released indicated, Public sector employment increased by 35,000 in April, largely in health care and social assistance and educational services.

With unemployment as low as it is, firms may have a harder time hiring and job growth could slow by the end of the year, Mr Faucher said.

The report signals that the overall economy is poised for stronger growth after an anemic first quarter.

The number of discouraged workers fell by 5,000 last month to 460,000, and was 363,000 the month the last recession started.

What the Tech: How to Fight Ransomware Part II
In March, we released a security update which addresses the vulnerability that these attacks are exploiting. If there's anything, Microsoft should indeed be appreciated for their response on the entire issue.

The US unemployment rate dropped unexpectedly last month, as companies created more jobs than expected.

The labour force participation rate, which shows the share of working-age people in the labour force, edged down to 62.9 per cent from March's reading of 63 per cent.

The Labor Department will publish the April jobs report at 8:30 a.m. ET on Friday.

The new figures represent a continuing trend of steady economic growth stretching back to early in President Obama's term, though wage growth continues to lag behind. For historical perspective, wage gains have averaged 2.7 per cent over the past decade.

"While that lowered the year-on-year increase to 2.5 percent, the smallest since August 2016, there are signs that wage growth is accelerating as labor market slack diminishes", per Reuters.

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