There was little change in unemployment numbers in the United States in June, after employers added 195,000 positions for the month. However, the better-than-expected jobs report from the Bureau of Labor Statistics did leave some officials to believe that the Federal Reserve may be ready to scale back the stimulus package, with the jobless rate steady at 7.6 percent.
Overall, the healthcare, financial, leisure and hospitality sectors and professional and businesses services experienced some of the largest jobs gains for June.
Hourly earnings for all employees on private nonfarm payrolls rose slightly last month – by 10 cents – to an average of $24.01.
Long-term joblessness did appear to be a continuing issue with 11.8 million Americans who were receiving benefits in June out of work for six months or longer. Involuntary part-time employment increased by 322,000 during the month, with many people saying their hours had been reduced or they were unable to find full-time positions.
The unemployment rate also remained fairly stable in Brazil. After four straight months of increases, the jobless rate in the country's six largest cities stood at 5.8 percent in May, slightly higher than what some economists had predicted, 4-traders reports. Meanwhile, average salaries declined slightly, falling by 0.3 percent in May from April.
Employment experts said the tight labor market was contributing to inflationary pressure, which was helping to keep Brazil's consumer price index near the 6.5 percent ceiling that was within the central bank's tolerance range.
In Mexico, the unemployment rate experienced a modest decline, with the jobless rate for May dropping to 4.93 percent from 5.04 percent in April. Market Realist reports that the latest numbers are somewhat optimistic, since a steady employment level helps maintain consumer spending, which can help the overall economy recover faster.