The U.S. labor market expanded at a blistering pace in June, adding more than 222,000 jobs, according to Friday’s report from the Bureau of Labor Statistics.
That was far better than the 175,000 jobs expected by Wall Street economists.
The unemployment rate rose slightly, from 4.3 percent to 4.4 percent, according BLS. This was actually good news because it reflected more Americans re-entering the labor market.
The average hourly wage rose by 2.5 percent. Wage growth has been one of the key missing ingredients through much of the recent economic expansion. full story