US Economy Rebounds With 222,000 Jobs Added In June
Time to trade in your 0bama phones for alarm clocks!
US job growth surged more than expected in June and employers increased hours for workers, signs of labor market strength that could keep the Federal Reserve on course for a third interest rate increase this year despite benign inflation.
Non-farm payrolls jumped by 222,000 jobs last month, the Labor Department said Friday, beating economists’ expectations for a 179,000 gain.
Data for April and May was revised to show 47,000 more jobs created than previously reported.
While the unemployment rate rose to 4.4 percent from a 16-year low of 4.3 percent, that was because more people were looking for work, a sign of confidence in the labor market. The jobless rate has dropped four-tenths of a percentage point this year and is near the most recent Fed median forecast for 2017.