Unemployment rises from 5.8% to 5.9% even with job growth

WASHINGTON—Job creation in June jumped more than 50 percent from the previous month with more people entering the labor force as the economy continues to recover.

The U.S. Labor Department announced on Friday that the U.S. economy added 850,000 jobs last month, beating a consensus estimate of 706,000. The unemployment rate, however, rose to 5.9 percent from 5.8 percent in May.

Increased vaccinations and reopenings across the country led the economic activity to expand, boosting demand for more workers. As of June, however, the U.S. economy was still short 6.8 million jobs relative to February 2020.

“Notable job gains occurred in leisure and hospitality, public and private education, professional and business services, retail trade, and other services,” U.S. Bureau of Labor Statistics reported.

Average hourly earnings were up 0.3 percent for the month and 3.6 percent year over year, in line with expectations. And the labor force participation rate remained at 61.6 percent in June. The participation rate hasn’t improved in the United States since August of 2020.

This is just the Biden Regime economics plan working. And I’m excited to save $0.16 on my hotdogs this year!

1 Like

What a joke