BREAKING: U.S. Jobless Rate Falls to 6.1% (Lowest Since Sept. 2008), June Payrolls Rise 288,000 [View all]

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Source: Bloomberg

@BloombergNews: BREAKING: U.S. June payrolls rise 288,000, jobless rate falls to 6.1%

@BloombergNews: JOBS: Unemployment rate at lowest level since September 2008: http://t.co/Ky95n5rfvC/s/7gLi

Payrolls in U.S. Rise More Than Forecast; Jobless Rate at 6.1%

By Shobhana Chandra
July 03, 2014 8:30 AM EDT

Employers added more workers than projected in June and the unemployment rate fell to an almost six-year low of 6.1 percent, underscoring a brighter U.S. labor market that will help spur the economy.

The addition of 288,000 jobs followed a 224,000 gain the prior month that was bigger than previously estimated, Labor Department figures showed today in Washington. The median forecast in a Bloomberg survey of economists called for a 215,000 advance. The jobless rate is the lowest since September 2008. The number of long-term unemployed fell to 3.1 million, showing they’re having greater success finding work.

A rebound in the economy after a first-quarter slump is encouraging companies such as Ford Motor Co. (F) to add to staffing levels, laying the groundwork for a pickup in wages needed to further propel consumer spending. More employment opportunities will probably keep Federal Reserve policy makers on the path to gradually reduce monetary stimulus.

“The labor market kicked into a higher gear in the second quarter,” Ward McCarthy, chief financial economist at Jeffries LLC in New York, said before the report. “You really have to look at the post-first-quarter data, and that’s looking pretty good. Even housing is showing improvement.”

Read more: http://mobile.bloomberg.com/news/2014-07-03/payrolls-in-u-s-rise-more-than-forecast-jobless-rate-at-6-1-.html

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