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Going for Growth An opportunity that governments should not miss - OECD

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"growth" in Business English

Contact Us. Contact Blog Projects. Name: Email Address: Thank you! On Friday, the Fed reiterated that it would act as necessary to sustain the economic expansion, while noting that most Fed officials have lowered their expectations for the course of rates. Construction companies added 21, workers after having increased their payrolls by only 5, in May.

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Manufacturers hired a net 17, people, up from just 3, in May. Healthcare and social assistance gained 50, jobs.

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The government sector was a major source of hiring, adding 33, jobs in June. Nearly all those gains were at the local level. With more Americans earning steady paychecks, demand for massages and facials has increased, and the company plans to add 60 locations this year and about 1, jobs. But the low unemployment rate has also made it hard to find and retain workers.

Joshua Shapiro, chief U. Ryan Wang, U. Avery Shenfeld, chief economist at Canadian Imperial Bank of Commerce, is not confident that the Fed will lower rates this month. Rate cuts are likely coming, but the Fed has to be very careful to not be seen as pushed by the market and the White House.

Economic growth

The sluggish pace of hiring in May had signaled that employers might have grown more cautious because of global economic weakness and, perhaps, some difficulty in finding enough qualified workers at the wages that companies are willing to pay. Consumer spending has solidified. Home sales are rebounding.


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Growth in the services sector, which includes such varied industries as restaurants, finance and recreation, slowed in June. Overall, though, employers have been adding jobs faster than new workers are flowing into the economy.