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U.S. Adds 195,000 Jobs; Unemployment Remains 7.6%
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| Contributor | Jason |
| Last Edited | Jason Jul 05, 2013 07:14am |
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| Category | News |
| Media | Newspaper - New York Times |
| News Date | Friday, July 5, 2013 01:00:00 PM UTC0:0 |
| Description | The economy added 195,000 jobs in June, the Labor Department reported Friday morning, slightly more than analysts had been expecting and suggesting healthier growth.
Wall Street has been feverishly awaiting the June employment report. Not only does it provide another indicator of overall economic strength, it also affects the timing of the Federal Reserve’s decision to start easing back on a major part of its stimulus efforts.
Experts on Wall Street had been expecting the economy to add 165,000 jobs in June, so the better-than-expected monthly number, along with upward revisions in the number of jobs created in April and May, makes it more likely the Fed will begin stepping back in the coming months. In the first half of 2013, a better indicator than the one-month snapshot, the economy added 202,000 jobs a month, up from the 183,000 monthly pace in 2012 |
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