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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jun 02, 2018
Page
5
The Labor Department reports 233,000 new jobs in May, unemployment at 3.8 percent, near 1969 levels. The Dow rose 219 points as employers hire broadly while wages stay modest, and unemployment falls across groups, including record lows for black Americans and women.
The Culinary Workers Union Local 226 reached a tentative five year contract with Caesars Entertainment covering about 12 000 bartenders housekeepers kitchen and related workers at nine Las Vegas Strip resorts. Wages and anti harassment language are expected but details await ratification. Organizers say job security and workload studies remain concerns as MGM Resorts negotiates with other properties.
President Trump urged Canada to open markets and remove trade barriers amid threats of tariffs and a potential end to NAFTA talks. He accused Canada of long standing restrictions harming U S agricultural business and farmers, naming timber and lumber, while lawmakers warn a broader trade war could harm economies. Kudlow denies a trade war with allies.
New York stocks rose as a stronger than expected jobs report signaled ongoing labor market strength despite trade war concerns. The S&P 500 climbed 29.35 to 2,734.62, Dow rose 219.37 to 24,635.21, Nasdaq added 112.21 to 7,554.33, and Russell 2000 gained 14.37 to 1,647.98 as rates and the dollar firmed on Fed rate hike expectations.
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