The United States Department of Labour has revealed that the country added 287,000 new jobs in June, 2016 according to report released Friday.
It's a massive rebound from
May when the U.S. added a mere 11,000 jobs. Unemployment rose slightly in June
to 4.9% (up from 4.7% in May). That's actually a good sign because it means
more Americans are looking for work again.
The big boost in hiring in
June alleviates fears that the U.S. economy is sputtering. It's especially
welcome news after the Brexit shock that rattled markets. Stocks rallied Friday
morning.
"The economy continues
on a solid, but not spectacular path," says John Ryding of RDQ Economics.
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