The jobs report from the Labor Department issued Friday morning was met with mostly optimism. As Freddie Mac Deputy Chief Economist Len Kiefer put it, ""Today’s report is more good news for the U.S. economy. The labor market keeps chugging along, as reflected in today’s June Jobs report. We’re now at 93 straight months of consecutive job gains, and the uptick in the unemployment rate was driven by a surge in labor market participation." CNBC reports:
The employment part of the economy continued to power forward in June, adding another 213,000 jobs though the unemployment rate rose to 4 percent, according to a government report Friday.
Economists surveyed by Reuters had expected a nonfarm payrolls gain of 195,000 and the jobless rate to hold steady at 3.8 percent, which had been tied for the lowest since 1969.
Another solid month of job gains provided little help to wages. In addition to the payroll gains, average hourly earnings rose 2.7 percent year over year, a bit below expectations of a 2.8 percent increase.
US economy adds 213,000 jobs in June from CNBC.
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