June jobs report: Economy adds back 850,000 payrolls, unemployment rate ticks up to 5.9%
The U.S. economy added back jobs for a sixth straight month in June, with job growth picking up speed alongside the reopening economy. The U.S. Labor Department released its June jobs report Friday morning at 8:30 a.m. ET. Here were the main metrics from the report, compared to consensus estimates compiled by Bloomberg: Change in non-farm payrolls: 850,000 vs. 720,000 expected and an upwardly revised 583,000 in May Unemployment rate: 5.9% vs. 5.6% expected and 5.8% in May Average hourly earnings, month-over-month: 0.3% vs. 0.3% expected and a downwardly revised 0.4% in May Average hourly earnings, year-over-year: 3.6% vs. 3.6% expected and a downwardly revised 1.9% in May Friday''s jobs report also came with revisions to the past two months'' payrolls figures. In April, non-farm payroll additions were revised down by 9,000 to 269,000, while May''s were revised up by 24,000 to 583,000. The biggest payroll gains in June were again in the leisure and hospitality industries, which were the hardest hit in the earlier stages of the pandemic.
June jobs report: Economy adds back 850,000 payrolls, unemployment rate ticks up to 5.9%
The U.S. economy added back jobs for a sixth straight month in June, with job growth picking up speed alongside the reopening economy. The U.S. Labor Department released its June jobs report Friday morning at 8:30 a.m. ET. Here were the main metrics from the report, compared to consensus estimates compiled by Bloomberg: Change in non-farm payrolls: 850,000 vs. 720,000 expected and an upwardly revised 583,000 in May Unemployment rate: 5.9% vs. 5.6% expected and 5.8% in May Average hourly earnings, month-over-month: 0.3% vs. 0.3% expected and a downwardly revised 0.4% in May Average hourly earnings, year-over-year: 3.6% vs. 3.6% expected and a downwardly revised 1.9% in May Friday''s jobs report also came with revisions to the past two months'' payrolls figures. In April, non-farm payroll additions were revised down by 9,000 to 269,000, while May''s were revised up by 24,000 to 583,000. The biggest payroll gains in June were again in the leisure and hospitality industries, which were the hardest hit in the earlier stages of the pandemic.