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Job growth has slowed this year while the unemployment rate fell to a post-recession low.
The US economy gained 222,000 jobs in June, many more than expected, according to a report from the Bureau of Labor Statistics on Friday. Wage growth didn't budge.
Economists had forecast that nonfarm payrolls increased by 178,000, according to Bloomberg.
The excess number of people employed in July over those that were laid off or fired was revised upwards for both April and May. That left the June job gains roughly in line with the average increases this year, and did not vastly improve the overall picture of employment.
The unemployment rate ticked up from a 16-year low of 4.3% to 4.4%.
Wage growth was softer than expected and unchanged from May. Average hourly earnings rose by 0.2% month-on-month, and 2.5% year-on-year.
Economists expect wages to be rising at an even faster pace because the unemployment rate is near a post-crisis low. However, some Federal Reserve officials have noted that the lower unemployment rate is not lifting workers' pay the way it used to.
Retail hiring rose for the first time since January, pausing an exodus of jobs in the large department stores that are losing ground to ecommerce. Retail trade gained 8,100 jobs overall, although hiring fell on net in car dealerships, electronics stores, and clothing stores.
The healthcare sector contributed the most jobs, at 37,000.
Job growth has slowed this year while the unemployment rate fell to a post-recession low. Read Full Story
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