United States stocks rise after solid June jobs report

United States Municipal Bond

Hourly wage growth has plodded along at an annual rate of roughly 2.5 percent in recent months, but even that number is misleading, because most of the gains have gone to more highly skilled workers, said Robert Frick, corporate economist at Navy Federal Credit Union.

Friday's report from the Labor Department shows wages grew 2.5 percent in June from the same period a year earlier.

Economists were expecting there to be 178,000 jobs added to the economy in June while the unemployment rate was set to remain at 4.3%, a post-financial crisis low.

The number of Americans not participating in the labor force declined from 94,983,000 in May to 94,813,000 in June.

The economy is expected to have added 177,000 jobs in June, but analysts are more concerned about whether workers got a raise.

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The United States is willing to work with Russian Federation to implement measures to stabilize Syria , including no-fly zones. Moscow also suggested other CIS (Commonwealth of Independent States) should consider sending peacekeeping missions to Syria .

This month's numbers came as economists have anxious that the USA economy is struggling to create large numbers of new jobs despite president Donald Trump's pledge to create "JOBS!"

One of the sore spots in the breakdown of the payrolls was the third consecutive month of job losses in the automobile sector.

The BLS also said that April and May added 47,000 more jobs than previously announced.

Markets and economists were also keeping an eye on the underemployment rate, which includes not only those unemployed but workers are employed part-time but would like full-time work.

Diane Swonk, the founder of Chicago-based DS Economics, told The New York Times she contributes the slower hiring pace to uncertainty around the future of health insurance coverage.

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Meanwhile, the unemployment rate ticked up to 4.4 percent, but this happened for the right reasons.

The pace of job gains remains relatively strong, almost seven years into the current economic expansion. The unemployment rate increased slightly from May, ticking up from 4.3 percent to 4.4 percent.

"There's an opportunity for more people to come back into the labor force", Samana said, adding that improvements to the participation and underemployment rates would indicate broader strength. Spot gold sank all the way down to $1,217/oz, its lowest in almost four months, while spot silver lost 1.5% to trade below $15.80/oz.

The increase of 222,000 jobs is a positive signal, but investors are keeping a close eye on wages, Pappalardo added. The average monthly gain over the preceding 12 month period was about 194,000. When combined with flat average weekly hours, the foundations of income growth were fairly soft. Average hourly wages data and unemployment rate figures for June are expected to be released at the same time.

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