287 Thousands of Jobs in June: US Economy Grows

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In June, the labor market intensified, and employers added thousands of jobs to 287. This news has negated concerns about the long-term slowdown in wage growth.

On Friday, the Department of Labor said that about 400 thousands of workers found jobs. Involved even those who are desperate in the search.

Federal, state and local governments have added 22 000 jobs.

Travel companies, hotels, medical and financial companies have added 265 000 jobs.

The average hourly rate increased by 2 cent. Now it is $ 25,61, which is 2,6% higher than last year.

The Federal Reserve is interested in a quick salary increase before again speak about raising interest rates. Of course, the chances are slim that the Fed will raise rates at a meeting at the end of this month. A significant role was played by the results of the UK vote on leaving the European Union.

But the report increases the chances of a rate hike in September or December, says Jason Schenker, president of Prestige Economics.

“For now, we're going to see a slowdown in job growth,” says John Canally, chief economic strategist at LPL Financial in Boston. He predicts an average of about 175 additional jobs will be added in the coming months and 000 in the fourth quarter.

On Friday, the report indicated positive moments. The number of part-time workers has decreased by almost 600 thousand.

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