372,000 Jobs added in June: Labor Dept.

Jul 11, 2022
480 views
0 comments
Share
Analytical Aptitude

While inflation has been eating into wages and interest rates, the US economy powered through June with broad-based hiring on par with recent months keeping the country clear from the recession territory. According to the Labor Department, employers added 372,000 jobs in the month of June and the unemployment rate was at 3.6% which has been unchanged since May and near a 50-year low.

The job growth in June exceeded the forecasts by economists by roughly 100,000. This offers some reassurance that a sharper downturn isn’t underway. The report also shows bigger wage gains than expected, which could give the Federal Reserve some leeway to beat back inflation.

Over the last three months, employment growth averaged at a solid 375,000 which is still a drop from the monthly pace of 539,000 in the first quarter of this year. In recent months, employers have been trying to hang on to workers. Initial unemployment claims have only risen slightly from their low point in March. Meanwhile, the private sector has regained its prepandemic employment level. Other than the public sector, no other broad industries lost jobs in June, on a seasonally adjusted basis.

Source: The Washington Post

480 views
0 comments

Tags In

Apple India

Previous days news

Jul 8 Jul 6 Jul 1 Jun 29 Jun 27

Best tech jobs in the United States : BLS data

Sep 06, 2022
1173 views
0 comments
Background Checks

For several reasons, the IT sector is appealing to job seekers. ...Read more

Salaries for Californian fast food employees might rise to $22 per hour

Sep 06, 2022
771 views
0 comments
Background Checks

Despite the opposition of restaurant owners who worried it would raise customers' bills, California Governor Gavin Newsom on Monday signed a nation-leading law providing more than 500,000 fast food employees additional authority and rights. ...Read more

Workers leave as job dissatisfaction grows

Aug 17, 2022
1214 views
0 comments
Background Checks

Demands for improved pay and workplace environments are coming from workers in California to New York. ...Read more

Microsoft offers graduates from African nations job prospects in the US & Canada

Aug 17, 2022
751 views
0 comments
Background Checks

New graduates from institutions in Nigeria and other African nations have been made aware of job prospects by Microsoft. ...Read more

Casper is hiring professional sleepers

Aug 10, 2022
1269 views
0 comments
Background Checks

A mattress company is searching for a role where napping while working is not only acceptable but also required. 'Casper Sleepers' are being hired by Casper, a New York-based business established in 2014. ...Read more

372,000 Jobs added in June: Labor Dept.

372,000 Jobs added in June: Labor Dept.

Tags In

Others news

Category

Tags

Articles