The US added 213,000 jobs in June, China hits back at trade tariffs, and more top news

NICOLAS ASFOURI/AFP/Getty Images

The US added 213,000 jobs in June, China hits back at trade tariffs, and more top news
Published on July 6, 2018

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The U.S. added 213,000 jobs in June, according to the Labor Department’s latest jobs report, better than the 195,000 predicted by economists. The unemployment rate, which had been hovering at historic lows, rose slightly from 3.8% to 4% — the first increase in nearly a year. Average hourly wages rose 2.7% year-over-year, just below the anticipated 2.8% gain. “The rise in the jobless rate may ease any pressure on the Fed to raise interest rates at a faster pace,” notes Bloomberg. • Here’s what people are saying.

The U.S. implemented $34 billion in tariffs on Chinese goods. Minutes later, Chinese officials said they were “being forced to strike back as necessary” — 545 items of U.S. imports have been hit with Chinese tariffs also worth $34 billion, according to the state-run Xinhua News Agency. On Thursday, President Trump threatened to expand U.S. tariffs to ultimately target over $500 billion in Chinese goods. The U.S. has already imposed duties on countries including Canada, Mexico, the EU and Japan. • Here’s what people are saying.

Credit Suisse is the latest Wall Street bank in trouble with U.S. authorities over Chinese hiring. The firm has been fined $77 million by the Justice Department and the SEC in a settlement over claims it hired the relatives of influential Chinese officials in order to curry favor and win business in the region. In 2016, authorities fined JPMorgan Chase $264 million over its hiring practices in China. • Here’s what people are saying.

Scott Pruitt, embattled head of the Environmental Protection Agency, has resigned."Within the Agency Scott has done an outstanding job, and I will always be thankful to him for this," President Trump tweeted in announcing the resignation. Pruitt had come under fire for a “long list of controversies," including questionable travel costs and the use of government personnel to run personal errands. Pruitt's deputy, Andrew Wheeler, takes over as interim administrator on Monday. • Here’s what people are saying.

As Toys “R” Us shuts its doors, Amazon goes old-school. The tech giant will offer a holiday toy catalog, Bloomberg reports, which will be handed out to Whole Foods shoppers and mailed to “millions” of U.S. households. The move is part of Amazon's efforts to incorporate traditional retail in its business model, notes Bloomberg; the online retailer also reportedly looked into buying some Toys "R" Us locations. • Here’s what people are saying.

Idea of the Day: True wisdom is knowing when to ask for help, says Dr. Ha Tran,Nephrologist and Genentech clinical science lead.
“Call for help, call for a consult, ask for a second opinion, err on the side of caution. When you get to a certain level of and intellect and expertise, those seeds of doubt and uncertainty are the ones that need to be explored and understood, not suppressed or dismissed, no matter how inconvenient.”

What's your take on today’s stories? Share your thoughts in the comments.

— Carmel Melouney and Katie Carroll

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