Jobless Rate Drops To Ten Year Low

Trump (finally!) reaches million-jobs mark

In Ontario, the unemployment rate fell to 6.1 per cent in July, down from 6.4 per cent in June with a solid gain of 26,000 jobs, mainly in the service sector.

The labor force participation rate rose by 0.1% in July, ticking up to 62.9%. "It's worth paying those higher wages", Eric Rosengren, president of the Federal Reserve Bank of Boston, said in a interview this week. But that sector of the labor market, falling under the "leisure and hospitality" industry, has the lowest average weekly wages, according to the Labor Department. The 222,000 jobs added in June were revised up to 231,000.

It was the 82nd consecutive month of jobs growth. Among this group, 536,000 individuals were considered discouraged-not now looking for work because they believe no jobs are available for them. The dollar also climbed, potentially saving it from a fourth straight weekly decline after the greenback weakened to the lowest since 2015.

Additionally, 1.6 million people were considered marginally attached to the labor force; they are unemployed but want and are available to work, and had looked for a job sometime in the previous 12 months.

From May to July, the monthly job gains have averaged 195,000, considered as a healthy pace by many economists. As was seen under the prior administration, unemployment dropped while labor force participation plummeted to a 39-year-low.

Doug Duncan, chief economist at Fannie Mae, said in a report that it would be a mistake to "nitpick" the gain in wages, adding that the steady rise over the past year "isn't too shabby".

Cougars receiving votes in Amway Coaches Top 25 poll
Though no other teams from Michigan cracked the Top 25 , Western Michigan, who will be going into their first season after P.J. Fleck left for Minnesota, received eight total votes while Mark Dantonio's Michigan State Spartans received one vote.

That may be holding down wages overall, but it's still a good sign that people are able to find work.

Nation-wide, the jobless rate has fallen to the lowest it's been since the start of Canada's financial crisis nine years ago.

President Donald Trump cheered the news Friday morning, tweeting "Excellent Jobs Numbers just released - and I have only just begun".

On first glance, things are looking good for America's teen workers. Last year, there were 27 million foreign-born workers in the United States.

The news was well-received on Wall Street, where USA stocks opened higher Friday morning foreshadowing the potential of another record-breaking day for the markets.

The U.S. labor market has been a bright spot in a long recovery marked by slow growth.

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