Jobs Report Shows Improved Pace in Manufacturing

The U.S. economy added 220,000 jobs in June, the best showing since February and well above analysts’ expectations of 174,000.

The Labor Department’s Bureau of Labor Statistics (BLS) also said the number of employed Americans—which set records in February, March and April—set another record in June, at 153,168,000.

U.S. manufacturers grew at their fastest pace in three years. The BLS reported the economy added 1,000 manufacturing jobs last month, for a total of 12,396,000.

“Really great numbers on jobs & the economy!,” President Trump tweeted. “Things are starting to kick in now, and we have just begun! Don't like steel & aluminum dumping!”

The number of Americans not in the labor force—after four straight monthly gains—dropped a bit to 94,813,000.

The bureau draws the statistics from a pool of people who are at least 16-years-old and are not institutionalized or in the military. This number includes retirees, students, homemakers, the disabled, and others who have stopped looking for work.

The labor force participation rate rose a tenth of a point to 62.8 percent in June. The bureau said the participation rate shows no clear trend.

The June unemployment rate increased a tenth of a point to 4.4 percent.

Over the past three months, job gains have averaged 194,000 per month. For the first six months of 2017, the average monthly gain has been 180,000.

Source: CNS News