Market

US unemployment rate increases 4 pct in June, trade deficit drops to 19-month low

US unemployment rate rose to four percent in June as the economy added 213,000 jobs, official figures showed Friday.

According to the Department of Labor, over the year, average hourly earnings have increased 2.7 percent.

It indicated that after revisions, job gains have averaged 211,000 per month over the last three months.

It noted that job growth occurred “in professional and business services, manufacturing, and health care, while retail trade lost jobs.” Meanwhile, the US trade deficit dropped to 6.6 percent in May reaching a 19-month low, according to data.

The Department of Commerce showed that the deficit declined to USD 43.1 billion in May as exports increased 1.9 percent to a record USD 215.3 billion. Imports recorded a smaller increase of 0.4 percent to USD 258.4 billion.

Source: Kuwait News Agency

Market

US unemployment rate increases 4 pct in June, trade deficit drops to 19-month low

US unemployment rate rose to four percent in June as the economy added 213,000 jobs, official figures showed Friday.

According to the Department of Labor, over the year, average hourly earnings have increased 2.7 percent.

It indicated that after revisions, job gains have averaged 211,000 per month over the last three months.

It noted that job growth occurred “in professional and business services, manufacturing, and health care, while retail trade lost jobs.” Meanwhile, the US trade deficit dropped to 6.6 percent in May reaching a 19-month low, according to data.

The Department of Commerce showed that the deficit declined to USD 43.1 billion in May as exports increased 1.9 percent to a record USD 215.3 billion. Imports recorded a smaller increase of 0.4 percent to USD 258.4 billion.

Source: Kuwait News Agency