You’re hired! Unemployment rate falls to 3.9% in July

Nonbank mortgage lenders and brokers employed 345,400 people during the month, according to the Bureau of Labor Statistics. But in June, Minnesota's unemployment rate was below the national average at 3.1 percent.

As The Washington Examiner noted, the number is just slightly below the previous record of 4.6 percent set in July.

"House price appreciation has exceeded wage growth for six years, so any signal that wage growth may be closing the gap is good news", said Fleming.

The Labor Department on Friday released its hiring and unemployment figures for July, providing a fresh snapshot of the US economy. Last week, the Commerce Department reported that gross domestic product expanded at an annual rate of 4.1 percent in the second quarter, the fastest pace in almost four years.

"Job gains occurred in professional and business services, in manufacturing, and in health care and social assistance" the report says.

But workers' average hourly paychecks grew tepidly from the previous month and are up just 2.7 percent compared to the same time a year ago.

Most of the jobs were added in the manufacturing and retail industries, with employers hiring twice as many people compared to this time past year.

"It is fantastic that at this point in a recovery you are seeing growth that is on average faster than the previous two years", she reportedly said.

The U.S. economy has added jobs for 94 consecutive months, a record streak that shows no signs of waning, despite President Donald Trump's escalating trade war.

The unemployment rate ticked down to 3.9 percent from 4 percent. Economists' maintain that wages will rise as economy drains remaining slack from the labor market and businesses' pay more to retain workers.

On Wednesday, the U.S. Federal Reserve, the nation's central bank, said the economy was "strong", an upgrade from its June assessment, which dubbed the economy "solid".

Yet the trade fights didn't appear to impact hiring last month. That rate dropped to 7.5 percent in July-the lowest since May 2001. Initial jobless claims were near a 50-year low in the week the BLS conducted its survey for the jobs report and haven't added up to more than 300,000 since March 2015.

Despite many businesses' trouble finding qualified workers, they are still hiring and looking outside traditional pools for talent.

(Copyright © 2015. All Rights Reserved.)

Trump fires back at Republican mega donors after criticism
While senior officials from the network had blamed Trump for the nation's divisions a day earlier, Koch stopped short of that. He contended that the Kochs "love my Tax & Regulation Cuts, Judicial picks & more ".

Fortnite coming to Android, but sidestepping Google Play Store
However, novice users are typically discouraged from doing so, because apps from unknown sources could pose a security risk. It will be as good as a round of Russian Roulette for people attempting to play Fortnite on anything other than the Note 9.

Fortnite Coaching: Parents Are Paying Upto $20/Hour To Train Kids
The WSJ report names contracting sites like Bidvine who has hired out hundreds of video game tutors in recent months. And these parents are serious: they actually want to help their children get better at playing a video game.

Ex-Belgium coach Jones: Courtois definitely leaving Chelsea
Brazilian global Willian has failed to return to Chelsea for pre-season with rumours of a move to Real Madrid continuing to swirl. Should Chelsea run down Courtois' contract which runs out next year, they could see the Belgium global leave the club on a free.

Woods-Mickelson $10M Showdown Reportedly Set For November
Mickelson said at the Players Championship in May that a $10 million prize would be enough to put both players " out of our comfort zone ".

Switzerland crash: Up to 20 feared dead as WW2 plane crash
There are now no details on casualties but the Ju-52 can carry up to 17 passengers, two passengers and a flght attendant. FILE - In this Saturday, May 30, 2009 photo Mount Piz Segnas and the Atlas, back right, are pictured in Switzerland.

Trump's short-term health plans are cheaper but cover less
They usually exclude coverage for critical health services that consumers have come to expect their policies to cover. The Trump administration's recent freeze of payments to insurers with sicker customers is another swipe at Obamacare.

White House escalates China trade dispute to secure early breakthrough: John Kemp
Beijing said it would be forced to take countermeasures to defend Chinese interests, free trade and the worldwide order. China listed 5,207 USA products that it would target in an effort to "safeguard its own legitimate interests".

Soaring temperatures across Europe likely to break record
In eastern Europe, Poland was also enduring unusually high temperatures as the hot African air pushed temperatures up to 34C. The hot weather is continuing, with temperatures forecast to reach 30 degrees Celsius in southern Britain today.

DR Congo hit by EBOLA OUTBREAK as authorities call for calm
Once present in humans, it causes haemorrhagic fever, vomiting and diarrhea and is spread through direct contact with body fluids. Four cases of the disease were positively confirmed in the country's North Kivu province and more are anticipated, Dr.

President Donald Trump Insults LeBron James On Twitter
LeBron James listens to a question at a news conference after the opening ceremony for the I Promise School in Akron, Ohio . To the sporting world and largely beyond, he's King James, but to President Trump , LeBron James' is no intellectual genius.

Justin Rose withdraws from WGC-Bridgestone Invitational with back injury
And it was the seventh time he shot 66 or better in the opening round of this tournament; he won five of the previous six times. The company next year sponsors the Senior Players Championship at Firestone, while the WGC event moves to Memphis, Tennessee.

Iran receives more airplanes ahead of renewed US sanctions
Iran's navy and its paramilitary Revolutionary Guard routinely conduct seaborne exercises in the Gulf and the strait. Rouhani has suggested Iran might block the Strait of Hormuz in response to a shutdown of its oil exports.

Pro Football Hall of Fame welcomes 8 new members
He called Hall of Fame receiver Jerry Rice his "inspiration", claiming his former San Francisco 49ers teammate was "hands down the best receiver in the game".

Maduro in drone ‘attack’ with explosives - Venezuela gov’t
Mr Maduro was talking about the economy before he suddenly looked up, looking startled and the broadcast cut away from the podium. A previously unknown group has claimed responsibility for an attempted attack on Venezuela's President Nicolas Maduro .

More News

More News