Finally, some good news.
It has been a sluggish year for the U.S. economy, but data released Friday shows employers have finally shaken off two months of weak hiring by adding 287,000 jobs in June, a robust pace that suggests a resilient U.S. economy recovering from a slump early in the year.
The strong jobs report shows that the U.S. economy was improving before the United Kingdom voted late last month to leave the European Union, raising fears of a global recession. Friday’s figures from the Labor Department suggests that the U.S. economy, which has defied overseas weakness before, might be able to do so again.
The June hiring spurt marked a sharp improvement from May’s dismal showing, when only 11,000 jobs were added, and April’s modest gain of 144,000. June’s increase was the largest since October 2015.
The unemployment rate rose from 4.7 percent to a still-low 4.9 percent, the government said in its monthly jobs report. But the uptick occurred mainly for an encouraging reason: More Americans began seeking jobs, though most didn’t immediately find work.
Investors were pleased with Friday’s report. The Dow Jones industrial average was up more than 200 points, about 1.1 percent, in early-afternoon trading.
“This is clearly positive news after the worrying slowdown in previous months,” Andrew Hunter, assistant economist at Capital Economics, wrote in a research note.
The Associated Press contributed to this article
Arthur Hartsock says
My own personal economy has gotten better recently. I’m disabled with bad back, legs and feet. But I was able to find a job (bindery assembly) that allows me to alternately stand and sit. I had given up on working, because no one would hire me. But a job opened up where I had a bit of experience, and at that moment they had openings. Only $10 per hour but that’s okay with me.
Main Street says
The majority of new jobs are low wage non-benefit ones. Millions of Americans who can’t find a job are not listed once their unemployment benefits expire. Just about half of the U.S. population is on food stamps or other programs. Great times indeed!
Alan Humphries says
Good for you Arthur and may you have many more blessings.
My daughter gave up looking for a job and now she is working for a horse farm. In Houston TX. She has always loved horses but it does not pay what she was earning before. Her husband lost his job and is now working for less. So the truth is the economy is not getting better
My heart is with you and your family. I know exactly what you are describing. We used to have a couple of industries in our area, but the pay was very low even then. Notwithstanding, I was willing to put up with that as long as I didn’t have to drive long distances for a job. I am a Certified Electronics Technician with a degree in Electronics Engineering Technology. However, tourism started taking hold and that drove prices of food, gas, and everything else through the roof. I and most all others where I live were forced to go elsewhere for work. I would stay away coming home only on the weekends much of the time to save on gasoline. I was talking to a contractor about what tourism was doing to us and he said: “Well, it is good for the economy”. And I replied: “I suppose it all depends on who’s darned economy you are speaking of” ………. He didn’t say much else. I am retired now and both industries in my area closed their doors years ago. All that is left is the buildings which are not far from falling down.
Alan Humphries says
Mysteriously when things are going horrible for DemonRats the jobs numbers or unemployment numbers make a hugh turnaround. Of those newly created jobs how many pay a decent wage? Cooking the books is commonplace for these Rats.Leading up to the November election we will see outlandish numbers . Anything to help Hildabeast.
My bet is this great news gets revised down. They do this pretty often, put out a false number that boosts the economy temporarily only to revise it down and lose their gains. The liberal media barely mentions the lower number making things look great for the drones.