The June jobs report showed the US labor market remained more resilient than anticipated in the final month of the second quarter.
The US economy added 147,000 nonfarm payrolls in June, more than the 106,000 expected by economists. The unemployment rate unexpectedly fell to 4.1%. Economists had expected the unemployment rate to move higher to 4.3%.
In May, the US economy added 144,000 jobs while the unemployment held flat at 4.2%. Those figures were revised higher on Friday from a previously reported 139,000 job additions in May.
Average hourly earnings in June rose 0.2% over last month and 3.7% over the prior year. Economists expected wages to rise 0.3% over last month and 3.8% over the prior year. Meanwhile the labor force participation rate fell to 62.3% from 62.4% the month prior.
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Author: Faith Novak
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