U.S. Added 372,000 Jobs in June, Beating Expectations

U.S. Added 372,000 Jobs in June, Beating Expectations

The United States Bureau of Labor and Statistics announced Friday that payroll employment rose by 372,000 in June. 

The economy was expected to have added 250,000 jobs in June, according to economists surveyed by Dow Jones. 

The unemployment rate remained at 3.6 percent.

GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST

SEE BLS REPORT HERE

“Why it matters,” reports Axios. “Jobs growth remains healthy, even as the Federal Reserve tries to slam the brakes on the economy to contain decades-high inflation.”

“The backdrop,” Axios continues. “There has been a spate of companies announcing layoffs, rescinding job offers and pausing hiring, though these developments have largely been concentrated in sectors like housing and technology.”

In June, U.S. inflation hit 8.6% — the highest rate in 40 years.