Knoxville, TN Jobs Report
Although the unemployment rate sneaked up to 3.7%, the U.S. economy added 224,000 jobs in June, smashing economists’ expectations of 165,000.
“Today’s jobs report shows the U.S. economy continues to create jobs at a strong pace even as we enter the longest period of economic expansion on record,” said Tony Bedikian, managing director and head of global markets at Citizens Bank.
Wage growth also picked up; average hourly earnings rose to $27.90, and the labor participation rate kicked up to 62.9%.
This month’s report may be an indication that the U.S. economy isn’t deteriorating as many had feared.
BLS.gov cannot vouch for the data or analyses derived from these data after the data have been retrieved from BLS.gov.