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U.S. NEWS Friday 2 June 2017

US job market looks solid 8 years after recession ended

By JOSH BOAK leased at 8:30 a.m. East-
AP Economics Writer ern time. Separate reports
WASHINGTON (AP) — Ex- Thursday solidified expec-
actly eight years after the tations that job growth for
Great Recession ended, May was healthy. Payroll
the U.S. job market has processor ADP reported
settled into a sweet spot of that in a private survey of
steadily solid growth. companies, it found that
The 4.4 percent unemploy- a hefty 253,000 jobs were
ment rate matches a de- added in May, mostly
cade low. Many people among companies with
who had stopped looking fewer than 500 workers. Nor
for jobs are coming off the are layoffs much of a con-
sidelines to find them. More cern. Weekly applications
part-timers are finding full- for unemployment benefits,
time work. About all that’s which tend to reflect the
still missing is a broad ac- pace of layoffs, averaged
celeration in pay. a low 238,000 over the past
On Friday, when the gov- four weeks, according to
ernment releases the jobs the Labor Department.
report for May, that pat- The government’s monthly
tern is likely to extend itself. jobs report produces a net
The consensus expectation gain by estimating how
of economists is that the A construction worker continues work at the SLS Lux in the Brickell neighborhood of Miami. The SLS many jobs were created
Labor Department will re- LUX is a 57-story residential and hotel property developed by the Related Group, and is sched- and comparing that figure
port that employers added uled to open in 2017. Exactly eight years after the Great Recession ended, the U.S. job market has with how many it estimates
176,000 jobs, according to settled into a sweet spot of steadily solid growth. were lost.
a survey by FactSet, a data (AP Photo/Lynne Sladky) The unemployment rate
provider. That’s right in line American economy that is nual rate. Few economists but grinding, with little sign is expected to have re-
with the monthly average running neither too hot nor foresee another downturn of the sort of overheated mained in May at 4.4 per-
of 174,000 over the past too cold, with growth hold- looming, in part because pressures that normally trig- cent, a low figure that his-
three months. ing at a tepid but far from the recovery from the re- ger a recession. torically has reflected a
All told, it’s evidence of an recessionary 2 percent an- cession has been steady The jobs report will be re- healthy job market. q
$3.8 billion Dakota Access oil pipeline begins service

By BLAKE NICHOLSON Pipeline system, which ETP “are key components to Four Sioux tribes in the Da- judge to shut down the line.
Associated Press said has commitments for unlocking our nation’s eco- kotas are still fighting in fed- Tribes and environmental
BISMARCK, N.D. (AP) — The about 520,000 barrels of oil nomic potential and creat- eral court in Washington, groups fear it might pollute
$3.8 billion Dakota Access daily. ing jobs.” D.C., hoping to persuade a water sources. q
pipeline began shipping oil “The pipeline will transport
for customers on Thursday, light, sweet crude oil from
as Native American tribes North Dakota to major re-
that opposed the project fining markets in a more
vowed to continue fight- direct, cost-effective, safer
ing. and more environmentally
Dallas-based Energy Trans- responsible manner than
fer Partners announced other modes of transporta-
that the 1,200-mile line tion, including rail or truck,”
carrying North Dakota oil the company said in a
through South Dakota and statement.
Iowa to a distribution point Grow America’s Infra-
in Illinois had begun com- structure Now, a coalition
mercial service. The Dako- of businesses, trade asso-
ta Access pipeline and the ciations, and labor groups
Energy Transfer Crude Oil that benefit from infrastruc-
Pipeline from Illinois to the ture development, issued a
Gulf Coast together make statement saying projects
up the $4.8 billion Bakken such as Dakota Access