St. Paul, MN (July 8, 2019) — U.S. job growth rebounded in June as employers added 224,000 jobs, an indication of the economy’s durability after more than a decade of expansion.
The Labor Department says the solid gain came after weak job growth of just 72,000 in May. The burst of hiring last month may suggest that employers are shaking off concerns about weaker global growth and the waning benefits from tax cuts.
The Labor Department says the solid gain came after weak job growth of just 72,000 in May. The burst of hiring last month may suggest that employers are shaking off concerns about weaker global growth and the waning benefits from tax cuts. The unemployment rate ticked up to 3.7%, up from 3.6% for the previous two months as more people began searching for work.
The strength of the jobs report could complicate a decision for the Federal Reserve late this month on whether to cut interest rates to help support the economy. Most investors anticipate a rate cut.
Hourly wages rose 3.1% from a year ago.
For June, the unemployment rate is expected to hold at 3.6% — the lowest level since 1969 — for a third straight month.
Matsuura Machinery USA, Inc., located in St. Paul, MN is the U.S. subsidiary of Matsuura Machinery Corporation in Japan. Since 1935, Matsuura has been the forerunner in designing innovative technology and manufacturing solutions to a variety of industries around the globe. Matsuura Machinery USA, Inc. delivers unmatched excellence in 5-axis, vertical, horizontal, linear motor, multi-tasking CNC machine tools and machines with a powder bed metal AM platform with machining capability. Matsuura Machinery USA, Inc. provides the service, applications and technical field support that have always been the Matsuura standard for business.
For more information on Matsuura products, contact: [email protected] or visit: www.matsuurausa.com.