372K New Jobs Added To U.S. Economy In June, Unemployment Remains 3.6%

372K New Jobs Added To U.S. Economy In June, Unemployment Remains 3.6%
(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.

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.