The U.S. economy added 287,000 jobs in June
The federal nonfarm payrolls report released today showed that U.S. employers added 287,000 jobs in June, far exceeding economists' expectations and suggesting the economy had rebounded after May's disappointing employment numbers. Economists had predicted an increase of 170,000 jobs, with the gains partly due to Verizon employees returning to work after being out on strike in May. The unemployment rate increased to 4.9 percent from 4.7 percent, because more Americans returned to the labor force to look for work. U.S. stock futures surged on the news.
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