Menu
ADL Condemns' 'Absurd' U.N. Special Session on Jerusalem

ADL Condemns' 'Absurd' U.N. Special…

New York, NY, The Anti-De...

Jerusalem is our capital. We will continue to build in it and foreign embassies, led by the US embassy, will move to Jerusalem. It will happen.​

Jerusalem is our capital. We will c…

PM Netanyahu's remarks at...

ADL Monitoring Anti-Israel Rallies Globally: Anti-Semitic Images Appear in Arabic Language Media Following Trump Action on Jerusalem

ADL Monitoring Anti-Israel Rallies …

New York, NY,  Anti-...

PM Netanyahu attends MFA Chanukah candle-lighting ceremony

PM Netanyahu attends MFA Chanukah c…

​A great light emanates f...

Facebook, Google, Microsoft, Twitter, and ADL Announce Lab to Engineer New Solutions to Stop Cyberhate

Facebook, Google, Microsoft, Twitte…

New York, NY -  Face...

ADL to Challenge Justice Department Religious Liberty Guidance Calls it a “Roadmap for Discrimination”

ADL to Challenge Justice Department…

New York, NY- - The Anti-...

JWV Welcomes Greater Accountability for VA Employees

JWV Welcomes Greater Accountability…

The Department of Veteran...

Alice and Nahum Lainer Family Foundation Donates Transformative Endowment Gift to Sinai Akiba Academy

Alice and Nahum Lainer Family Found…

Los Angeles, California -...

Swiss Town Returns Painting Looted during World War II

Swiss Town Returns Painting Looted …

Following a lengthy legal...

PM Netanyahu welcomes US President Trump’s decision regarding Iran

PM Netanyahu welcomes US President …

​PM Netanyahu: President ...

Prev Next
A+ A A-

US Economy Adds 215K Jobs in July

Mil Arcega, VOA News


Yet more signs of an improving job market. The U.S. Labor Department says employers added 215,000 jobs last month.

That’s the third consecutive month of job gains above 200,000 following weaker than expected job growth earlier in the year. While the unemployment rate held steady at 5.3 percent, analysts say the July job gains increase pressure on the Federal Reserve to start raising interest rates soon.

As job reports go, July turned in a solid performance – with white collar jobs in retail, business services and health care leading the way.

Gad Levanon, managing director for economic outlook at the Conference Board, says that’s a good development that could ultimately lead to higher wages.

“The slack in the labor market is evaporating and we are getting to a tighter and tighter labor market which I think is good for employees, and at some point wages will accelerate. They have a better chance of finding a job that they like, so overall it's a good development," said Levanon.

Average hourly wages rose five cents from the previous month – up 2.1 percent from the same time last year. But you wouldn’t know it based on the reaction on Wall Street.

Stock prices on Wall Street slumped in early trading, but mostly because the July job numbers add pressure on the U.S. central bank to start raising interest rates. If the job gains continue next month – the Fed may have little choice – says Bankrate.com bureau chief Mark Hamrick – speaking to VOA on Skype.

"Fed officials like to talk about the fact that they are data-dependent, and, if we can hold them to their word on that, I think they will wait until the very last piece of data comes in before they decide to raise interest rates, but I do think it’s very much a possibility," said Hamrick.

Both analysts we spoke with predict an interest rate hike before the year ends.

"I think it makes it more likely that it will happen in September," said Levanon.

The Fed has kept the interest it charges other banks near zero since 2008 to bolster business and consumer spending. A September rate hike would mark the first increase in nearly a decade.

Leave a comment

Make sure you enter the (*) required information where indicated. HTML code is not allowed.

back to top

Sections

Jewish Traditions

About Us

Community

Cooperations

Follow Us