U.S. Economy Adds 213,000 Jobs In June, Unemployment Rate Ticks Up To 4%
By Space Coast Daily // July 6, 2018
average monthly jobs growth was 182,000 Last year
ABOVE VIDEO: U.S. Economy Adds 213,000 Jobs In June
(FOX BUSINESS) – The U.S. economy added a higher-than-expected number of jobs in June, with 213,000 positions created versus analysts’ expectations for 195,000.
The unemployment rate moved higher, off an 18-year low, to 4% from May’s 3.8%. Economists say the slight move higher is a positive as it reflects more workers entering the workforce after sitting on the sidelines, drawn by the plethora of jobs. In June, 601,000 Americans entered the labor force, and not all found jobs.
This trend comes as companies are bemoaning the lack of available labor.
Economists polled by Thomson Reuters anticipated that the unemployment rate would hold steady at May’s 3.8%, which was the lowest since April 2000.
June’s labor force participation rate came in at 62.9%.
“These numbers provide further evidence of a very healthy economy,” according to James McCann, senior global economist at Aberdeen Standard Investments. “Wage growth is a bit softer than seen over recent months and higher participation has pushed the unemployment rate up. This raises the question of how much slack is still left in the labor market.”
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