U.S. economy added 850,000 jobs last month, as companies scramble to find workers

Alexi Rosenfeld / Getty Images fileThe U.S. economy gained 850,000 jobs in June and the unemployment rate rose to 5.9 percent, from 5.8 percent, a sign that the recovery of the world’s largest economy is building momentum after misses in April and May.

"June’s better-than-expected payroll gains provide some needed reassurance that the healing of the job market remains a work in progress," said Mark Hamrick, senior economic analyst at Bankrate."The June showing is solidly above this year’s monthly average pace of more than 500,000 jobs added or recovered.

“I think it’s likely going to be pretty noisy here over the next few months as we go through the dog days of summer,” said Cliff Hodge, chief investment officer at Cornerstone Wealth. “It could nudge the Fed to act more quickly than market participants have baked in at the moment,” Hodge said. “We are fortunate in the U.S. to have ubiquitous access to vaccines, which has led to a massive shift back to locally owned businesses in these sectors,” said Eric Groves, co-founder and CEO of the small-business networking platform Alignable. “But with the surge comes a massive imbalance of supply and demand within the hourly labor markets,” he said.

A lack of child care, a skills mismatch and extended unemployment benefits have been frequently cited as potential deterrents keeping would-be workers from jobs, although opponents of rolling the program back before it expires in September say enhanced benefits

Morning_Joe This is due DIRECTLY to Biden's aggressive vaccination program. Not only would this NOT be the case if Trump was president, but it's Trumpers who are the ones keeping it from being even better by refusing to get vaccinated.

Anti-coup protest by locals of Laythunkhan village, LaungLon Tsp where colonel Ba Htoo was born. July1Coup WhatsHappeningInMyanmar

Morning_Joe Good...go retire baby-boomers Go golfing...that's what your best at just leave already & spend your easy money Let us X-gen's & younger set things right

The unemployment boost is ending for all 50 states in September and for a few red states they have already been ended.

What is failed to say what type of jobs offered. Either these companies are asking ridiculous qualifications for a job that somebody with half a brain could do or pay is less then minimum wage with NO benefits!

hmm great news

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U.S. Added 850,000 Jobs In June—More Than Experts Expected—As Labor Market Recovery Gains SteamThe unemployment rate in June was 5.9%.
Source: Forbes - 🏆 394. / 53 Read more »

As US companies scramble to hire, workers enjoy upper handWASHINGTON (AP) — With the economy growing rapidly as it reopens from the pandemic, many employers are increasingly desperate to hire. Yet evidence suggests that as a group, the unemployed aren’t feeling the same urgency to take jobs. here is the dirty secret of a free market. if you can't get enough of a good you have to pay more for it. somehow employers were thinking that does not apply to wages... sucks to be them xD Nooo way. You mean giving people free money didn’t motivate people to go to work Maybe a shortage of manpower is sort of a good thing. Employees will have to offer something palatable to entice workers to sign on.
Source: AP - 🏆 728. / 51 Read more »