US economy running hot; labour market improves

SINGAPORE (Aug 7): The US seems to be creating jobs at an “impressive pace” despite its economy facing tight labour markets and supply shortages, says Bank of Singapore.

In July, the US saw a 209,000 rise in payrolls following a couple of strong months, while the job growth in 2017 is just shy of last year’s 187,000 average rate.

The unemployment rate improved to 4.3%. It has not been lower since early 2001 while surveys confirm the trouble that firms are having in hiring new workers.

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