U.S. Jobs Growth in June Beats Expectations
NEW YORK (TheStreet) -- The U.S. work force added 195,000 jobs in June while the national unemployment rate remained unchanged at 7.6%, the Labor Department said Friday.
The June jobs growth beat expectations as economists polled by Thomson Reuters anticipated nonfarm payrolls to add 165,000 jobs and expected the unemployment rate to dip to 7.5%.
The report upwardly revised May payrolls to 195,000 from 175,000, and April jobs to 199,000 from 149,000. Jobs have grown an average of 182,000 a month over the prior 12 months. Many investors pay closer attention to the prior-revised monthly payrolls as they provide more refined numbers.
Average hourly earnings rose by 10 cents to $24.01. The average work week for all employees on private nonfarm payrolls remained unchanged at 34.5 hours.
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