The Labor Department reported Friday that U.S. employers added 213,000 jobs in June, exceeding economists' expectations in the latest sign of accelerating economic growth. Economists surveyed by MarketWatch had predicted a gain of 200,000 non-farm jobs, on average.
The strong report represented an expected drop from a surge in May. The government on Friday revised May's gains up to 244,000 from the initially reported 223,000, Reuters reported. Just 120,000 new jobs are enough to keep up with growth in the working-age population. The unemployment rate rose from 3.8 percent, the lowest since 2000, to 4 percent, as more people entered the work force and students grabbed summer jobs. Average hourly wages rose by 5 cents, or 0.2 percent, to $26.98.