US labour market expands in June
The US labour market boomed in June, creating many more jobs than expected, according to the latest report from the Bureau of Labor Statistics. It showed that 224,000 jobs were created in June, many more than the 160,000 that economists had forecast.
The figures, a rebound from poor jobs data in May, eased concerns the economy was heading for a recession.
Large numbers of jobs were also created in healthcare, transportation, and warehousing. Despite the strong job creation in June, wage growth was relatively modest at 0.2%, keeping the annual rate at 3.1%.