The private payroll of the United States lacks expectations; Weekly Unemployed Claim – BusinessGhana News

U.S. Private payroll increased less than expected in June as the number of Americans who applied for unemployment benefits unexpectedly rose last week, but this did little to alter perceptions that labor market conditions were continuing. to tighten up. full employment, with an unemployment rate at its lowest level in 18 years, at 3.8%. The unemployment rate has dropped three tenths of a point this year and is close to the Federal Reserve's forecast of 3.6% by the end of the year.

The ADP National Employment Report showed Thursday that private employers hired 177,000 workers, lower than market expectations for a gain of 190,000. Private payroll increased by 189,000 in May

. The slowdown in hiring probably reflects difficulties in finding skilled workers. The government's comprehensive employment report, scheduled for Friday, is expected to show that employers added 195,000 jobs to their payroll in June, in addition to the 223,000 jobs created in May, according to a Reuters survey of economists .

US In a separate report Thursday, the Labor Department said initial claims for state unemployment benefits rose from 3,000 to a seasonally adjusted figure of 231,000 for the week ended June 30. The previous week's claims data was revised to indicate that 1,000 more requests were received than those previously reported.

The economists polled by Reuters had forecast claims falling to 225,000 in the last week. Claims could become volatile over the next few weeks as automakers close their badembly lines for an annual retrofit.

Temporary plant closures are likely to affect more auto workers than in the past, which could thwart the model used by the government. smooth the data for seasonal fluctuations. General Motors has announced the closure of its Flint badembly plant for the entire month of July.

The Ministry of Labor said only Maine claims were badessed last week.

Labor market trends, which account for volatility from one week to the next, increased from 2,250 to 224,500 last week.

The claims report also indicated that the number of people receiving benefits after a first week of badistance increased from 32,000 to 1.74 million during the week ended June 23. , the lowest level since December 1973.