US Economy Adds 195K Jobs, Jobless Rate 7.6%.

By: Associated Press Email
By: Associated Press Email
U.S. employers added 195,000 jobs in June and hiring was more robust in the two previous months than earlier estimated. The gains raise hopes for a stronger economy in the second half of 2013.

Grief over unemployment

UPDATE - WASHINGTON (AP) - U.S. employers added 195,000 jobs in June and hiring was more robust in the two previous months than earlier estimated. The gains raise hopes for a stronger economy in the second half of 2013.

The Labor Department says the economy added 70,000 more jobs in May and April than initially reported.

The unemployment rate stayed at 7.6 percent because more people started looking for work. The government counts people as unemployed only if they are looking for work.

The economy has added an average of 202,000 jobs a month for the past six months, up from 180,000 in the previous six. That suggests businesses are growing more confident in the economy.

If the gains continue, the Federal Reserve might start to scale back its bond purchases before the year ends.

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WASHINGTON (AP) - The latest monthly employment data is due out Friday and economists expect June was another solid hiring month and that it could mean a stronger second half of the year for the U.S. economy.

Several reports Wednesday suggested that hiring remained solid in June, though perhaps not enough to reduce unemployment. Applications for unemployment benefits have stayed below 350,000 for most of the year, signaling fewer layoffs.

And a closely watched gauge of the U.S. service sector showed that such companies stepped up hiring last month.

Overall, economists predict that the government will report that employers added 165,000 jobs last month, roughly in line with May's increase, but the jobless rate isn't expected to change from its current 7.6 percent.


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