June Jobs Report: 195,000 Jobs Added

jobThe U.S. economy added 195,000 non-farm payroll jobs in June, beating estimates of 165,000 while the unemployment rate held steady at 7.6 percent, according to the Department of Labor.

The non-farm payroll number was revised higher for May from 175,000 to 195,00.

The labor participation rate moved higher  to 63.5 percent from 63.4 for the second straight month while the underemployment rate rose to 14.3 percent from 13.8 percent, a 4 month high.

Retailers added 37,100 jobs in June, higher than 26,900 in May.

Leisure and hospitality added 75,000 jobs in June.

Construction employment increased by 13,000. Health care jobs expanded to over 20,000. Employment in financial activities rose by 17,000 in June.

Manufacturing jobs declined by 6,000 and government employment decreased by 7,000 in June.

On July 3rd the ADP payroll report for June showed that U.S. private nonfarm payrolls added 188,000 payroll jobs in June, beating estimates of 160,000 jobs and surpassing May’s revised addition of 134,000.

The yield on the U.S. 10 year Treasury has moved higher to 2.69, a level not reached since August 2011 while the U.S. dollar continues to strengthen.

 

 

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