US Adds 224,000 Jobs, Beating Expectations
The Bureau of Labor Statistics announced today the United States added 224,000 jobs in the month of June. Economists initially expected a much fewer 72,000 jobs to be added amidst an anticipated slow down of the current economic expansion. Economist’s final estimates for the month were 165,000 jobs added, still falling significantly short of the actual amount. The unemployment rate increased insignificantly to 3.7%, or roughly 6 (six) million people total unemployed.