Friday, 4 August 2017



US President Donald Trump creates 209,000 jobs in July 2017

The US economy added 209,000 new jobs in July – the second month in a row of 200,000-plus jobs growth. The unemployment rate fell to 4.3%, a 16-year low.

Economists had forecast the US would add 180,000 jobs in July, in line with the average monthly gain for the last six months.



The latest jobs news will come as a welcome relief for Donald Trump, who was elected on the promise of rebuilding the US jobs market.

“Excellent Jobs Numbers just released,” the president tweeted, “and I have only just begun. Many job stifling regulations continue to fall. Movement back to USA!”

Ahead of the latest figures from the Bureau of Labor Statistics, the president heralded the announcement that Toyota and Mazda would soon be adding 4,000 new jobs at two new US plants.



June’s job gains were revised up from 222,000 to 231,000.

However, the jobs report showed once again that the majority of gains were in low-paying service industries. Jobs in food services and drinking establishments rose by 53,000 in July. The industry has added 313,000 jobs over the year. Healthcare employment increased by 39,000. Job growth in higher-paid sectors including construction, manufacturing and mining was marginal.

Wage growth has remained lackluster since the recovery from the last recession and was a mediocre 2.5% higher in July this year compared to July 2016.

On Wednesday, the payroll processor ADP said US businesses had added 178,000 in July, less than the 190,000 forecast. ADP reported job gains in all sectors except for manufacturing, which lost 4,000 jobs.

The biggest gainers were professional and business services, up 65,000, and education and health services, up 43,000.

Mark Zandi, chief economist of Moody’s Analytics, which helps compile the ADP report, said: “The American job machine continues to operate in high gear.

“Job gains are broad-based across industries and company sizes, with only manufacturers reducing their payrolls. At this pace of job growth, unemployment will continue to quickly decline.”



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