Friday's jobs report shows the US economy added 195,000 jobs in June, while the unemployment rate was unchanged at 7.6 percent. There's no sign yet of a drag from Washington's sequestration.
Americans had more to celebrate on the Fourth of July than they realized: The US economy added 195,000 jobs in June and more than 70,000 jobs than previously thought in April and May, according to the monthly employment report released Friday morning.
While the June jobs figure was right at the six-month average for US monthly employment growth, it topped economists' expectations of 165,000 net new jobs and showed the private sector added 202,000 jobs, higher than the most recent private-sector employment gauge.
Private-sector employment expanded by 185,000 from May to June, better than economists’ expectations of a 160,000-job improvement, according to the ADP employment report released earlier in the week.
While the government’s employment data point to a US economy on the mend, Friday’s jobs figures also show the continuation of some negative trends. While the unemployment rate stayed constant at 7.6 percent in June, a broader measure that includes workers who are out of work, underemployed, or discouraged from finding a job bounced up to 14.3 percent, half a percentage point higher than in May. Those working part-time but wanting full-time work increased 4 percent to some 8.2 million.
The rate of participation in the US workforce held steady at 63.5 percent, hovering around levels last seen in the late 1970s and early 1980s.