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US Labor Market Comes Roaring Back in June But Not Enough to Boost Hiring's Slowing Pace

WASHINGTON, DC--The unemployment rate rose to 4.9% as close to half a million workers moved back into the labor force.

By Erika Morphy | erikamorphy | | Updated on July 08, 2016
The District's K street The District’s K street

WASHINGTON, DC–The Labor Department has reported that US jobs rose by 287,000 last month and the unemployment rate ticked up to 4.9% as nearly half a million workers moved back into the labor force.   It is a strong rebound from May’s employment numbers, which were only 38,000 — and in fact, were revised downward in this report to 11,000.

The striking Verizon workers were cited as an explanation for the May’s dismal performance and indeed this month they were added back to the payrolls. Other drivers behind June’s employment numbers included strong activity in state and local government hiring  as well as in the hospitality and leisure, education and healthcare sectors.

“Today’s employment report will allay fears that a recession is underway or imminent,” is Fannie Mae Chief Economist Doug Duncan‘s first read on the numbers.

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