Anyone who, like the Federal Reserve, has been looking for continued good news that might indicate a future of falling interest rates should be heartened by June's job numbers.
The number of new jobs was 206,000, only slightly above the 200,000 predicted by economists Dow Jones polled. That compares to the originally announced 272,000 for May. Also, the unemployment rate, estimated at 4.0%, came in at 4.1%.
Additionally, there was a downward revision of previous estimates in April (-57,000) and May (-54,000) for a negative total of 111,000. As the Council of Economic Advisors tweeted, the average three-month payroll gain ending in March, was 177,000. Close to a third of June's jobs were government-related.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
