The Department of Labor’s monthly report on America’s employment situation brought some good news: 287,000 jobs were added in June. The nation’s unemployment rate rose to 4.9%, but economists attribute that figure to the expansion in the pool of workers. This is especially good news for the economy after the new job numbers for May came in at only 11,000. Jobs increased in almost every sector of the American economy. The exception was the mining industry. Since September 2014, mining has lost 211,000 jobs.
The good numbers in the June jobs report has eased fears after May’s numbers that the economy was entering a downturn. However, the numbers in the June report pre-date the Brexit vote, and it is not yet clear what the long-term effect of that vote will be.
While the future is still an unknown quantity, the June job numbers are a hopeful sign. For example, the June numbers bring the average three-month job gains to 147,000. Some commentators view the June report as a sign that the U.S. economy is continuing on a path to steady recovery.
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