US hiring surges as unemployment dips to 6.1 pct.

MGN Online
By  | 

WASHINGTON (AP) -- The June jobs report shows the U.S. economy moving steadily closer to full health, after having shrunk at the start of the year.

The Labor Department reports employers added 288,000 jobs last month, far more than economists had been expecting. It also revised the job gains for April and May upward. The gains were widespread, with only construction still appearing slow. Over the past 12 months, the economy has added nearly 2.5 million jobs.

Meanwhile, the unemployment rate fell to 6.1 percent, its lowest level since September 2008.

Despite the improving job market, most employers still have plenty of applicants to choose from, and many workers with jobs don't have enough confidence to look for better-paying ones. While the number of long-term unemployed has dropped to a little more than 3 million, the data suggest that many have given up their job searches.

Combine that with a lack of strong wage growth, and the Federal Reserve may not feel pressure to start raising short-term interest rates any time soon.




 
The comment sections of our web set are designed for thoughtful, intelligent conversation and debate. We want to hear from the viewers but we are not obligated to post comments we feel inappropriate or violate our guidelines. Here are some of the criteria you should follow when posting comments:

Comments cannot be profane or vulgar. Children and families visit this site. We will delete comments that use profanity or cross the lines of good taste.

We will delete all comments using hate speech. Slurs, stereotypes and violent talk aren’t welcome on our web site.

Comments should not attack other readers personally.

We will delete comments we deem offensive, in bad taste, or out of bounds. We are not obligated to post comments that are rude or insensitive.

We do not edit user-submitted comments.

As a host WEAU 13 News welcomes a wide spectrum of opinions. However, we have a responsibility to all our readers to try to keep our comment section fair and decent. For that reason WEAU 13 News reserves the right to not post or to remove any comment.
powered by Disqus