The U.S. created 287,000 jobs in June, massively topping analyst expectations. The national unemployment rate, meanwhile, rose slightly more than expected in June, to 4.9 percent, according to data released Friday by the Bureau of Labor Statistics.
Jobs watchers had been expecting Friday’s jobs report to show a substantial rebound from May’s unexpectedly weak growth, but the June number easily topped expectations. Economists surveyed by Reuters said they were, on average, expecting nonfarm payrolls to show growth of 175,000 for June, and the unemployment rate to rise to 4.8 percent. FULL REPORT
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