(7 July 2018, CNBC online, Jeff Cox)
- The employment part of the economy continued to power forward in June, adding 213,000 jobs.
- The unemployment rate, however rose to 4 percent as more people returned to the job market.
‘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.’