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U.S. Added 157,000 Jobs ; Unemployment Rate Slips to 3.9.

The Brose plant in Spartanburg, S.C., assembles components for BMW vehicles. Manufacturing jobs have been an economic bright spot, though the prospect of an escalating trade conflict has cast.

The Labor Department on Friday released its hiring and unemployment figures for July, providing a fresh snapshot of the American economy. Screenshot_2018-08-03-18-31-33-417_com.android.chrome.png

The Numbers

■ 157,000 jobs were added last month. Economists had expected a gain of about 190,000.

■ The unemployment rate fell to 3.9 percent, from 4 percent.

■ Average hourly earnings rose by 7 cents to $27.05. The year-over-year gain is now 2.7 percent.

The Takeaway

The latest job figures follow a steady stream of hiring gains and a robust reading on economic growth. Last week, the Commerce Department reported that gross domestic product expanded at an annual rate of 4.1 percent in the second quarter, the fastest pace in nearly four years.
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Like weather forecasters predicting sunny skies in Southern California, economists have watched the labor market produce consistent monthly increases in hiring recently. “I’ve never seen such a steady stream of gains — there’s no volatility in the numbers,” said Ellen Zentner, chief United States economist at Morgan Stanley.

And Martha Gimbel, director of economic research at Indeed.com, noted before Friday’s report that in the first half of 2018, the average monthly increase in jobs had even exceeded those in the comparable periods of 2015 and 2016. “It is amazing that at this point in a recovery you are seeing growth that is on average faster than the previous two years,” she said.
Made in U.S.A.

The manufacturing sector has been strong recently and gained another 37,000 jobs in July. “We’re not seeing any impact from trade tensions, as it’s too early,” said Scott Anderson, chief economist at Bank of the West in San Francisco. Makers of machinery, fabricated metals and electrical equipment have been among the most aggressive in hiring.

Steel Ceilings in Johnstown, Ohio, hired two hourly workers last month and will hire another two this month if it can find appropriate candidates, said Rick Sandor, the company’s president. That’s not easy these days — shifts run from 5 a.m. to 2 p.m., and temporary workers start at $14 per hour. So as the labor market has tightened, Mr. Sandor has eased up on the requirements for new hires.