As the most reliable and balanced news aggregation service on the internet, DML News offers the following information published by CNBC:
Nonfarm payrolls rose 213,000 in June and the unemployment rate was 4 percent, according to a government report Friday.
Economists surveyed by Reuters had expected a gain of 195,000 and the jobless rate to hold steady at 3.8 percent, which had been tied for the lowest since 1969.
The article goes on to state the following:
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.
Despite increasing talk about the economy being near full employment, hiring continues to grow. Along with June’s upside surprise, the Bureau of Labor Statistics revised April’s count up from 159,000 to 175,000 and May’s from 223,000 to 244,000, a total of 37,000 more than initially stated.
The report comes amid hopes that the economy is beginning to shift into high gear. GDP rose just 2 percent in the first quarter but is widely projected to increase close to 4 percent for the second quarter. CNBC’s Rapid Update tracker of economist expectations is putting the expected gain at 3.8 percent.
Federal Reserve policymakers are watching the numbers closely.
— CNBC (@CNBC) July 6, 2018
— Fox News (@FoxNews) July 6, 2018
US Jobs Report Beats Wall Street Expectations
601,000 increase in labor force
Will go into more details hosting @Varneyco @FoxBusiness please tune in
— Charles V Payne (@cvpayne) July 6, 2018
— CNBC Now (@CNBCnow) July 6, 2018
#BreakingNews: The U.S. economy added 213,000 jobs in June with the unemployment rate rising to 4%. Wage growth remained steady at 2.7% even though hourly wages inched higher by 0.2%.#JobsReport https://t.co/H3oSEThQai pic.twitter.com/IiGKAILBzO
— FOX Business (@FoxBusiness) July 6, 2018
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