(screen capture via ABC News)Today’s jobs report for June shows the U.S. economy added a higher than expected 372,000 new jobs, which may help calm fears of an impending recession.
Economists had predicted 250,000 jobs were gained in June.
The robust pace of U.S. hiring continued in June as employers added 372,000 jobs, a boost that may ease worries of an impending recession. The unemployment rate was unchanged at 3.6%. https://t.co/nce0trg1UT pic.twitter.com/r4MCeoE5VL
— The New York Times (@nytimes) July 8, 2022
From the New York Times:
The unemployment rate was 3.6 percent, the same as a month earlier, the Labor Department reported Friday.
The number is in line with the average gain over the last few months, including 368,000 in April and 384,000 in May. Employers have continued to compete for workers in recent months, with initial unemployment claims rising only slightly from their low point in March.
The private sector has now regained its pre-pandemic number of jobs, while the public sector remains 664,000 jobs below February 2020.
Read the full report here.
In related economic news, folks note that the average price of gas has gone down 23 days in a row.
BREAKING: After record 7 million jobs in one year, the #BidenBoom continues as economy adds 372,000 jobs in June, beating expectations. Unemployment at just 3.6%#ThingsYouWontHearOnFoxNews pic.twitter.com/EZBiLv2eSE
— Bryan Dawson (@BryanDawsonUSA) July 8, 2022
Gas prices have been going down for almost a month straight and during that time the economy added 372,000 jobs, pending revisions. pic.twitter.com/rxLCR3vQb5
— southpaw (@nycsouthpaw) July 8, 2022
Today, with the addition of 372,000 new jobs in June, our private sector has recovered all of the jobs lost during the pandemic – and added jobs on top of that.
We have more work to do. But no country is better positioned than America to face global economic challenges.
— President Biden (@POTUS) July 8, 2022