Jobs outlook was rosy in June

The economy added 132,000 new jobs in June and the unemployment rate remained at 4.5%, according to a Department of Labor report.

The economy added 132,000 new jobs in June and the unemployment rate remained at 4.5%, according to a Department of Labor report.
The June figure surpassed forecasts for 120,000 new jobs made by economists surveyed by Reuters, 125,000 new jobs by economists surveyed by the Associated Press and an estimated 130,000 added positions by economists surveyed by MarketWatch.
The Department of Labor revised up the number of new jobs created in April and May by 75,000.
The revision increased May job growth to 190,000 and April job growth up to 122,000, from the 157,000 and 80,000 new jobs previously estimated, respectively.
Hourly earnings rose to $17.38, marking a 0.3% increase from May, following a 0.4% increase in April.
Wages have grown by 3.9% over the past 12 months.
The government, health care, education and construction sectors added 40,000, 30,000, 24,000 and 12,000 new jobs, respectively. Meanwhile, retailers and manufacturers cut 24,000 and 18,000 workers, respectively.
The report followed yesterday’s ADP National Employment Report, which said that the private sector added 150,000 new jobs in June (InvestmentNews, July 5) .