Employment in financial activities rose by 17,000 in June and has grown by 169,000 over the year.
It shouldn't be too surprising that the economy hasn't changed direction since the election. The President's tax plan is nothing more than a set of bullet points that haven't even been put into legislative form yet, never mind formally proposed or voted on by Congress.
The retail sector is expected to have purged jobs for a fifth straight month as department store operators like J.C. Penney Co Inc, Macy's Inc and Abercrombie & Fitch struggle against stiff competition from online retailers led by Amazon.
The unemployment rate edged up to 4.4% in June from 4.3% in May.
Other employment indicators last month generally were encouraging. But the solid pace of job growth suggests that isn't the case.
The U.S. economy rebounded from a slower job growth month in May, adding 222,000 jobs in June. He expected job growth in coming months to be in the range of 150,000 to 180,000. The PayScale Index, which measures the change in wages for employed US workers, showed a 0.5 percent wage increase from Q1 to Q2 2017. But there has been little sign of that happening. "Over the year, average hourly earnings have risen by 63 cents, or 2.5 percent", the Labor Department says.
The jobs picture got brighter overall Friday after the government's latest jobs report. "More than five million Americans still work part-time who'd like to have full-time work".
Jobs in the telecommunications sector dropped by 0.7%, or 700 jobs, month-over-month to 760,000. The White House offered a muted response Friday, with Press Secretary Sean Spicer touting the job gains on Twitter as "great news" for US workers. But some slowdown was probably inevitable as the huge pool of workers displaced by the Great Recession began to dry up.
In June, businesses added 187,000 jobs. Almost twice as many people are quitting jobs as are being laid off or fired - a sign of a strong labor market.
Black unemployment, however, remained much higher than the overall unemployment rate of 4.4%, which in June inched up from a 16-year low. Although the unemployment rate ticked up from the previous month, it did so because more people joined the work force. The greenback also rose to a more than one-week peak against sterling. Since January, the unemployment rate and the number of unemployed are down by 0.4 percentage point and 658,000, respectively. "At this pace, which is double the rate of labour force growth, the tight labour market will continue getting tighter".