The American economy added 287,000 jobs in June, according to the Bureau of Labor Statistics. The number was a large increase from May’s disappointing 38,000 jobs which was revised downward on Friday to an even worse 11,000.
The unemployment rate ticked up two-tenths of a percentage point to 4.9%. This is partly due to people rejoining the workforce and the number of discouraged workers fell from 538,000 in May to 502,000 jobs.
The job numbers were higher than expected with analysts estimating roughly 175,000 jobs.
Wages were largely flat with a two cent per hour increase down compared to May’s increase of six cents.
Just as in May’s report, the Verizon strike played a factor in the numbers. In May, they were counted as off the job, bringing down the number. This month, they were counted as job increases, inflating the number.