287,000 jobs added in June, most in 8 months

Conservatives danced about a low number last month. Will they now be upset that there’s a good jobs number?

Payrolls climbed by 287,000 last month, exceeding the highest estimate in a Bloomberg survey, after a revised 11,000 gain in May, a Labor Department report showed Friday. The median forecast in a Bloomberg survey called for a 180,000 increase. The jobless rate rose to 4.9 percent as more people entered the labor force. Wages advanced less than projected.

The figures will help reassure workers and Federal Reserve policy makers alike that companies are staying the course on hiring in the face of weaker profits and overseas developments such as Britain’s vote to leave the European Union. Even with the outsized June advance, job growth over the last three months averaged 147,000, down from almost 200,000 in the first quarter and a sign of moderation as the economy approaches full employment.

By: Alan

Alan Colmes is the publisher of Liberaland.