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US economy adds 209,000 jobs, unemployment rate stays the same
US economy adds 209,000 jobs, unemployment rate stays the same
The US economy added 209,000 jobs in the month of June, far lower than expectations, though wage growth remained resilient, the Bureau of Labor Statistics reported. The number comes a day after ADP said that the economy added 497,000 jobs last month, far higher than the actual number reported by the US government. In addition, the BLS revised the jobs report from April from 294,000 jobs added down to 217,000 jobs and 339,000 jobs added in May down to 306,000 jobs. The unemployment rate ticked down from 3.7 per cent in May to 3.6 per cent in June. At the same time, hourly earnings remained robust, increasing 0.4 per cent in June and 4.4 per cent in the past 12 months. Unemployment for white people ticked down slightly from 3.3 per cent in May to 3.1 per cent in June. But jobless rates for other major groups including adult men, adult women, teenagers, Black, Asian and Hispanic workers remained unchanged. President Joe Biden, who has in recent days been touting his economic record with a series of appearances across the US, said in a statement that the continued job growth represents “Bidenomics in action” and pointed out that the 13.2 million jobs added to the US economy since the start of his term is more than any president has overseen in a full four-year term. “The unemployment rate has now remained below 4 percent for 17 months in a row—the longest stretch since the 1960s. The share of working-age Americans who have jobs is at the highest level in over 20 years. Inflation has come down by more than half. We are seeing stable and steady growth,” he said. “That’s Bidenomics—growing the economy by creating jobs, lowering costs for hardworking families, and making smart investments in America”. The news comes despite the fact that the Federal Reserve paused raising interest rates last month after it had consistently done so to cool down a hot labour market as a way to ease inflation. Increased jobs typically coincide with higher inflation given that employed consumers have more demand in the economy. Employment in government led the job increases, adding 60,000 jobs during June followed by health care, which added 41,000 jobs and social assistance, which added 24,000 jobs. But retail trade employment shed 11,000 jobs, while building material and garden equipment and supplies dealers lost 10,000 jobs. Furniture, home furnishings, electronics, and appliance retailers lost 5,000 jobs. The decidedly mixed jobs report comes as Mr Biden has attempted to tout his economic record, adopting the term “Bidenomics” to describe his policies such as the bipartisan infrastructure bill and the Inflation Reduction Act, which passed last year. On Thursday, he visited South Carolina to talk about his record and tout the fact that the United States attracted almost half a billion dollar private investment in manufacturing. “It’s historic, and it’s Bidenomics in action,” he said. “Instead of exporting jobs to cheaper labor costs -- what we did for decades -- we’re creating jobs here and exporting American product.” Read More Biden touts his economic record in fiery speech: ‘Guess what – Bidenomics is working’ Watch: Antony Blinken visits China for high-stakes meeting after ‘spy balloon’ Biden administration says judge's social media order could cause 'grave harm' Trump’s ex-press sec’y says there’s ‘no way’ White House cocaine is Hunter Biden’s NATO leaders set to offer Ukraine major support package but membership is off the table for now The US will provide cluster munitions to Ukraine as part of a new military aid package: AP sources
2023-07-07 22:45
Pelicans vs. Timberwolves prediction and odds for NBA Summer League
Pelicans vs. Timberwolves prediction and odds for NBA Summer League
The NBA’s 2024 Las Vegas Summer League kicks off at 4:30 p.m. EST with the New Orleans Pelicans taking on the Minnesota Timberwolves.A few teams have already played games this summer, but both of these teams are making their Summer League debuts.New Orleans has some fun young talent on...
2023-07-07 22:18
China Ends Probe of Jack Ma-Backed Ant With $984 Million Fine
China Ends Probe of Jack Ma-Backed Ant With $984 Million Fine
Chinese regulators imposed a 7.12 billion yuan ($984 million) fine on Ant Group Co., according to a statement
2023-07-07 20:57
Hong Kong Relaxes Mortgage Rules to Support Property Sector
Hong Kong Relaxes Mortgage Rules to Support Property Sector
The Hong Kong government relaxed its residential mortgage rules for the first time since 2009 in a bid
2023-07-07 20:23
Neutral Swiss and Austrians join Europe's Sky Shield defence
Neutral Swiss and Austrians join Europe's Sky Shield defence
The plan to protect European skies has now attracted 19 countries since Russia invaded Ukraine.
2023-07-07 20:15
China Weighs More Local Bond Sales to Help Pay Risky Hidden Debt
China Weighs More Local Bond Sales to Help Pay Risky Hidden Debt
Chinese authorities are weighing plans to support cash-strapped cities and counties by allowing additional local bond issuance to
2023-07-07 19:49
What are cluster bombs and why is it controversial for the US to send them to Ukraine?
What are cluster bombs and why is it controversial for the US to send them to Ukraine?
The United States is expected to announce it is sending cluster munitions to Ukraine to help its military push back Russian forces entrenched along the front lines. The administration of Joe Biden is set to say that it will send thousands of them as part of a new military aid package worth $800m (£630m). The move will likely trigger outrage from some allies and humanitarian groups that have long opposed the use of cluster bombs. Proponents argue that both Russia and Ukraine have already been using the controversial weapon in Ukraine and that the munitions the US will provide have a reduced dud rate, meaning there will be far fewer unexploded rounds that can result in unintended civilian deaths. Here is a look at what cluster munitions are, where they have been used and why the U.S. plans to provide them to Ukraine now. What is a cluster munition? A cluster munition is a bomb that opens in the air and releases smaller "bomblets" across a wide area. The bomblets are designed to take out tanks and equipment, as well as troops, hitting multiple targets at the same time. The munitions are launched by the same artillery weapons that Western allies have already provided to Ukraine for the war — such as howitzers — and the type of cluster munition that the US is planning to send is based on a common 155 mm shell that is already widely in use across the battlefield. Why are they so controversial? In previous conflicts, cluster munitions have had a high dud rate, which meant that thousands of the smaller unexploded bomblets remained behind and killed and maimed people decades later. The US last used its cluster munitions in battle in Iraq in 2003, and decided not to continue using them as the conflict shifted to more urban environments with more dense civilian populations. On Thursday, Brigadier General Pat Ryder – the Pentagon press secretary – said the US Defense Department has "multiple variants" of the munitions and "the ones that we are considering providing would not include older variants with [unexploding] rates that are higher than 2.35 per cent." A convention banning the use of cluster bombs has been joined by more than 120 countries, which agreed not to use, produce, transfer or stockpile the weapons and to clear them after they've been used. The US, Russia and Ukraine haven't signed on. Why provide them now? For more than a year the US has dipped into its own stocks of traditional 155 howitzer munitions and sent more than two million rounds to Ukraine. Allies across the globe, including the UK, have provided hundreds of thousands more. A 155 mm round can strike targets 15 to 20 miles (24 to 32 kilometres) away, making them a munition of choice for Ukrainian ground troops trying to hit enemy targets from a distance. Ukrainian forces are burning through thousands of the rounds a day battling the Russians. Yehor Cherniev, a member of Ukraine's parliament, told reporters at a German Marshall Fund event in the US this spring that Kyiv would likely need to fire 7,000 to 9,000 of the rounds daily in intensified counteroffensive fighting. Providing that many puts substantial pressure on U.S. and allied stocks. The cluster bomb can destroy more targets with fewer rounds, and since the US hasn't used them in conflict since Iraq, it has large amounts of them in storage it can access quickly, said Ryan Brobst, a research analyst for the Foundation for Defense of Democracies. A March 2023 letter from top House and Senate Republicans to the Biden administration said the US may have as many as three million cluster munitions available for use, and urged the White House to send the munitions to alleviate pressure on American war supplies. "Cluster munitions are more effective than unitary artillery shells because they inflict damage over a wider area," Mr Brobst said. "This is important for Ukraine as they try to clear heavily fortified Russian positions." Tapping into the US stores of cluster munitions could address Ukraine's shell shortage and alleviate pressure on the 155 mm stockpiles in the US and elsewhere, Mr Brobst said. Is using cluster bombs a war crime? Use of cluster bombs itself does not violate international law, but using them against civilians can be a violation. As in any strike, determining a war crime requires looking at whether the target was legitimate and if precautions were taken to avoid civilian casualties. "The part of international law where this starts playing [a role], though, is indiscriminate attacks targeting civilians," Human Rights Watch's associate arms director Mark Hiznay said. "So that's not necessarily related to the weapons, but the way the weapons are used." Where have cluster bombs been used? The bombs have been deployed in many recent conflicts. The US initially considered cluster bombs an integral part of its arsenal during the invasion of Afghanistan that began in 2001, according to Human Rights Watch (HRW). The group estimated that the US-led coalition dropped more than 1,500 cluster bombs in Afghanistan during the first three years of the conflict. The Defense Department had been due to stop use of any cluster munitions with a rate of unexploded ordnance greater than 1 per cent, by 2019. But the Trump administration rolled back that policy, allowing commanders to approve use of such munitions. Syrian government troops have often used cluster munitions — supplied by Russia — against opposition strongholds during that country's civil war, frequently hitting civilian targets and infrastructure. And Israel used them in civilian areas in south Lebanon, including during the 1982 invasion. During the month-long 2006 war with Hezbollah, HRW and the United Nations accused Israel of firing as many as four million cluster munitions into Lebanon. That left unexploded ordnance that threatens Lebanese civilians to this day. The Saudi-led coalition in Yemen has been criticized for its use of cluster bombs in the war with the Iran-backed Houthi rebels that has ravaged the southern Arabian country. In 2017, Yemen was the second deadliest country for cluster munitions after Syria, according to the UN. Children have been killed or maimed long after the munitions originally fell, making it difficult to know the true toll. In the 1980s, the Russians made heavy use of cluster bombs during their 10-year invasion of Afghanistan. As a result of decades of war, the Afghan countryside remains one of the most heavily mined countries in the world. Associated Press Read More The Body in the Woods | An Independent TV Original Documentary The harrowing discovery at centre of The Independent’s new documentary Biden is considering sending controversial cluster munitions to help Ukraine Muslims across Pakistan hold anti-Sweden rallies to denounce burning of Islam's holy book Ukraine claims new gains made against Russia’s troops near Bakhmut - live
2023-07-07 19:25
A trailer for the Bob Marley biopic has dropped. Here's what we know
A trailer for the Bob Marley biopic has dropped. Here's what we know
A Bob Marley biopic is making its way to the big screen more than 40 years after his death -- and a trailer just dropped.
2023-07-07 18:57
Chinese Foreign Minister’s Unusual 12-Day Absence Draws Scrutiny
Chinese Foreign Minister’s Unusual 12-Day Absence Draws Scrutiny
Chinese Foreign Minister Qin Gang has been absent from public view for 12 days, an usual absence for
2023-07-07 18:47
Ukraine-Russia war – live: Putin’s troops ‘suffer new losses near Bakhmut’ as counteroffensive continues
Ukraine-Russia war – live: Putin’s troops ‘suffer new losses near Bakhmut’ as counteroffensive continues
Ukrainian troops have advanced by more than a kilometre in the last day against Russian forces near the eastern city of Bakhmut, a military spokesperson said on Friday. His comments were the latest by Kyiv signalling that the counteroffensive it launched in early June is gradually making progress although Russian accounts of fighting in the Bakhmut sector differ from Ukraine’s. “The defence forces continue to hold the initiative there, putting pressure on the enemy, conducting assault operations, advancing along the northern and southern flanks,” Serhiy Cherevatyi told Ukrainian television. “In particular, over the past day, they have advanced more than one kilometre (0.62 mile).” Elsewhere, the president of Belarus, Alexander Lukashenko said there were “no war heroes” following Wagner’s attempted coup in Moscow after Vladimir Putin was hailed a hero by Russian state TV. Mr Lukashenko, ally to the president, told the BBC: “I think that no one came out of that situation a hero. “Not Prigozhin, not Putin, not Lukashenko. There were no heroes. And the lesson from this? If we create armed groups like this, we need to keep an eye on them and pay serious attention to them.” Read More Inside Vladimir Putin’s luxury armoured train – that has its own beauty salon Wigs, gold bars and pictures of severed heads: Inside Wagner boss’s lavish Russian mansion Why the US is willing to send Ukraine cluster munitions now How many casualties has Russia suffered in Ukraine?
2023-07-07 17:57
Taiwan Exports Plunge at Fastest Pace in 14 Years on Demand Woes
Taiwan Exports Plunge at Fastest Pace in 14 Years on Demand Woes
Taiwan’s exports plunged in June at the fastest pace since 2009, exacerbating concerns about the slump in global
2023-07-07 17:29
A 445% Price Jump Makes Tomatoes More Pricey Than Gasoline in India
A 445% Price Jump Makes Tomatoes More Pricey Than Gasoline in India
Indian tomato prices are soaring due to adverse weather, triggering a wave of social media memes comparing the
2023-07-07 17:25
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