Yahoo Finance's Seana Smith, Myles Udland and Dion Rabouin break down the state of the labor market ahead of the June Jobs Report.
Companies in the USA added fewer workers in June than forecast as a tight and still-solid labor market led to a slower pace of hiring, according to data released Thursday from the ADP Research Institute in Roseland, New Jersey. Payroll processor ADP said that hiring was led by employers with more than 50 workers. Over the past 12 months, this sector has gained 285,000 jobs, with about three-quarters of them involving durable goods such as metal products, computer parts and cars.
The economy has now been adding jobs for almost eight years - its longest streak on record.The U.S.is considered at near full employment, and the biggest challenge in the job market is the lack of available workers - a record 6.7 million jobs remain unfilled. With 93 straight months of job growth - a historical record - many employers have said they're feeling pressure to raise wages.
Under the service sector, the education and health services industry dominated, adding 46,000 new positions, while the leisure and hospitality industry, and professional and business services industry, both added 33,000.
Has Meghan Markle Adopted an English Accent?
Defending her, another fan tweeted: "I don't understand why it's a big deal if Meghan Markle develops a British accent... 1". Lindsay Lohan has an accent and she's just Lindsay Lohan, ' a woman named Sophia said.
Air tankers at Medford fighting the Klamathon Fire
Dozens of fires have broken out across the western United States, fanned by scorching heat, winds and low humidity. A northern California wildfire has spread into OR , triggering evacuations in parts of Jackson County.
4-year-old with cerebral palsy celebrates after taking first independent steps
Ann continued that even though Maya needed the assistance of a walker since the age of 1, she always wanted to walk independently. Maya's family stated that the procedure would reduce Maya's spasticity permanently and give Maya to live without much pain.
The growing optimism that people can find work suggested that the 9-year old US economic expansion - the second-longest on record - has the momentum to keep chugging along. Pay usually rises when employers struggle to find capable workers, since the additional income entices workers to leave their previous jobs.
"Business' number one problem is finding qualified workers", Zandi said. At the current pace of job growth, if sustained, this problem is set to get much worse.
Despite signs of a worker shortage, Paychex found that pay growth has been trending downward. Average hourly pay has held flat for the past year after adjusting for inflation, according to the Labor Department.
Last month, President Trump broke with long-standing practice and tweeted about the jobs report prior to its official 8:30 a.m. release, prompting markets to move. Economists are forecasting that economic growth accelerated to an annual pace of roughly 4 percent during the April-June quarter, about double the previous quarter's pace.