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Financial News: U.S. Employment Jumps Much More Than Expected In

U.S. Employment Jumps Much More Than Expected In June

07/05/2019 - 08:45:00 (RTTNews)

(RTTNews) - After reporting disappointing job growth in the previous month, the Labor Department released a report on Friday showing U.S. employment jumped by much more than expected in the month of June.

The report said employment surged up by 224,000 jobs in June after edging up by a downwardly revised 72,000 jobs in May.

Economists had expected employment to increase by about 160,000 jobs compared to the addition of 75,000 jobs originally reported for the previous month.

Despite the stronger than expected job growth, the unemployment rate inched up to 3.7 percent in June from 3.6 percent in May. The unemployment rate had been expected to hold steady.

The uptick in the unemployment rate reflected an increase in the size of the labor force, which expanded by 335,000 people compared to the 247,000-person jump in the household survey measure of employment.

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