US Added 850K Jobs In June, Unemployment Rate Flat

The Wall Street Journal reports:

The U.S. economy added 850,000 jobs in June as the pace of the recovery surged — quieting simmering fears, at least temporarily, of more lasting harm from labor and supply shortages. The unemployment rate changed little, ticking up to 5.9 percent from 5.8 percent.

The news is likely to be seen as a good sign for the economy more than one year into the pandemic, after numerous wrinkles have emerged to complicate a labor recovery many hoped would be faster at this level of vaccinations.

Consumer spending, on services like restaurants, entertainment and transportation has been increasing in recent months.

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The U.S. added 850,000 jobs in June and the jobless rate was 5.9%, as the labor market heated up after a spring lull https://t.co/MoY1RyEmOY

— The Wall Street Journal (@WSJ) July 2, 2021