U.S. Economy Adds Another 224,000 New Jobs in June
July 12, 2019
Global Korean Post
The United States economy continues to flourish, according to the June Employment Situation Report released today by the Bureau of Labor Statistics (BLS).
According to Council of Economic Advisers, total nonfarm payroll employment in June rose by 224,000 jobs, far exceeding market expectations (162,000). With July marking the longest economic expansion on record, it is a testament to the strength of the Administration’s economic policies that the economy continues to generate monthly job gains of this magnitude.
Including revisions for the months of April and May, the average pace of job growth has been a vigorous 192,000 jobs per month over the past year. In total, the economy has added more than 6 million jobs since President Donald J. Trump was elected. The June jobs report also reflects a rebound in job growth, suggesting that May’s revised outcome (+72K) was not a trend (see figure).
The June employment data portray an American economy that is humming along briskly, with a continued low unemployment rate, historic trends in job growth, and rising wages.