Great jobs report: Strong hiring, unemployment down

jobs

The American jobs recovery seems to have finally hit its stride.

The U.S. economy added 288,000 jobs in June, marking the fifth straight month where employers added at least 200,000 jobs. The last time that happened was in late 1999, as the dot-com bubble was inflating.

Economists surveyed by CNNMoney had predicted that 200,000 jobs were added last month,

Meanwhile, the unemployment rate is now 6.1%, down from 6.3% in May. Economists were expecting the unemployment rate to stay at 6.3%.

Another sign of good news for those who currently have jobs is that pay is on the rise. Hourly wages ticked up 0.2% in June and are up 2% in the past 12 months. Federal Reserve chief Janet Yellen has mentioned concern that wages aren’t growing as rapidly as needed.

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Filed in: News

3 comments

  • sinner 3

    The high school kids. getting a job in fast food for the summer, is not an economic recovery !

  • stantheman

    Janet Yellen saying wages aren’t rising fast enough. Not many companies can pay an average of $83,000 per year like the White House. Remember, the 83,000 is average. Can you imagine what some of these low lifes are making and we are footing the bill. America needs to wake up. God Bless America and all who have served.

  • lovethetruth

    It that’s the average, then half the people are making less than that.
    I know that some people who were laid off, had to take jobs were the wages were MUCH lower than their previous jobs.

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