The U.S. economy added 224,000 jobs during the month of June, which is well higher than the expected number of 165,000.
— CNBC Now (@CNBCnow) July 5, 2019
As CNN puts it, the U.S. economy is currently “blowing away expectations.”
CNN (Yes, CNN) Correspondent: June Jobs Report “Blowing Away Expectations” pic.twitter.com/Xj8ukfgloE
— Arthur Schwartz (@ArthurSchwartz) July 5, 2019
The unemployment rate ticked up a tenth of a percentage from 3.6 to 3.7 percent as well, which due to more Americans than estimated entering the workforce.
✅224,000 new jobs created
✅3.1% wage increase
✅105 straight months of job growth
✅More Americans than estimated entering the workforce
The latest Labor Dept. report shows why pro-growth policies mean more jobs & higher incomes for all Americans. https://t.co/h6hikNvGIK
— Jim Banks (@RepJimBanks) July 5, 2019
Perhaps the biggest winner from the jobs report was the manufacturing sector, which added over 17,000 jobs, far higher than its previous 2019 per-month average of 8,000.
— Real Time Economics (@WSJecon) July 5, 2019
Wages rose more than three percent over last year.
— Edward Lawrence (@EdwardLawrence) July 5, 2019
All in all, a solid report.
Now the question is whether this report will influence (possibly dissuade) the Federal Reserve from cutting interest rates later this month.