The economy gained 224,000 jobs in the month of June, continuing a generally robust hiring pace that has brought Americans off the sidelines and into the workforce at the highest rate since 1969.
The economy gained a whopping 224,000 jobs in the month of June, beating expectations of 150,000 and continuing a generally robust hiring pace that has brought Americans off the sidelines and into the workforce at the highest rate since 1969.
President Donald Trump praised the jobs numbers Friday morning, telling reporters at the White House the economy"would be like a rocket ship," if the Federal Reserve were to cut rates."But we don’t have a Fed that knows what it’s doing," he said. Investors have been closely tallying a variety of economic metrics that could signal a slowdown in the economy and thereby strengthen the case for the Federal Reserve to cut its benchmark interest rate at its July 30-31 meeting, easing lending for banks and businesses.
Last month's BLS report revealed just 75,000 jobs were added to the economy in May, far below expectations of 165,000. That number was revised Friday to an even lower 72,000. In addition, April's figure was revised down to 216,000 job gains, versus 224,000.
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