U.S. Economy Adds 278,000 Jobs in June

     (CN) – U.S. employers added 287,000 jobs in June, but the national unemployment rate nevertheless ticked up slightly, to 4.9 percent, the Labor Department reported Friday.
     The job growth number handily beat analysts predictions. The expectation had been for only about 180,000 jobs to have been added last month. However, the jobless number was also higher a shade higher than anticipated.
     According to the department’s Bureau of Labor Statistics, the unemployment rate for adult women and for whites, generally, rose in June. The jobless rate for adult men, teenagers, blacks, Asians, and Hispanics showed little or no change.
     The overall unemployment rate rose 0.2 percent, to 4.9 percent in June, up from 4.7 percent in May.
     In addition, average hourly private-sector earnings were up 2 cents. In May, they were up 6 cents.
     In a statement, Labor Secretary Thomas Perez said the June numbers demonstrate the resilience of the U.S. economy.
     “With the addition of 287,000 jobs, the total nonfarm employment level bounced back from May’s below-expectations report; we are reminded of the importance of focusing on long-term trends rather than one month’s results,” Perez said.
     All told, he said, American businesses have added 14.8 million jobs since February 2010, which he described as “a remarkable recovery from the greatest economic crisis of our lifetimes.”
     “In June, the unemployment rate remained below 5 percent — down from 10 percent at the height of the recession. Weekly initial claims for unemployment insurance have been below 300,000 for 70 weeks, the longest streak since 1973,” Perez said.

%d bloggers like this: