The 2017 June jobs report has been released.
Here are seven things to know about it, according to the Labor Department:
- Wall Street analysts were expecting the nation to add 175,000 jobs last month, but the country surpassed this figure with 222,000 jobs added.
- This figure was 47,000 positions higher than reported in April and May. The average job gains have been 194,000 over the last three months.
- The unemployment rate is still relatively low at 4.4%, which is slightly higher than the 4.3% rate of May.
- The average hourly rate of wages rose by 2.5% on average, which was weaker than expected.
- The number of workers who are working part time because they are unable to get full-time work is at 8.6%, which is higher than the 8.4% of May but about a point lower than the year-ago month.
- The June jobs report reveals that there is a lower number of workers who are qualified for the position in hand, prompting some employers to hire workers who are industrious and reliable.
- There is a catch-22 for many workers as plenty of positions require a car for you to work, but these positions offer $9 or $10 an hour, which makes it almost impossible to get a vehicle at that rate.
“Stock Market at all time high, unemployment at lowest level in years (wages will start going up) and our base has never been stronger!” tweeted Donald Trump.
