213,000 Jobs Created in June – 601,000 Americans Reenter Workforce!

The June jobs numbers were released on Friday.

213,000 jobs were created in June, well above the expected gain of 195,000.

The unemployment rate increased from 3.8% to 4.0% due to the fact that 601,000 Americans reentered the workforce.

CNBC reported:

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.

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.

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