NewsCovering America


U.S. employers added 224,000 Jobs while the unemployment rate slightly rose

Posted at 5:18 PM, Jul 05, 2019
and last updated 2019-07-05 20:18:09-04

Experts say that the United States unemployment rate is higher than predicted, with a slight increase to 3.7 percent of those unemployed.

While the unemployment rate rose, the number of jobs available increased. U.S. employers added 224,000 jobs in June.

The U.S. Department of Labor says that the increase of jobs is a solid gain after the number of those hired during May reached just 72,000. In a statement, U.S. Secretary of Labor Alexander Acosta said with the number of jobs added in June the total amount of jobs created since January 2017 to 5.6 million.

And experts say it's an indication that the economy is much stronger and durable following more than a decade of expansion. The growth suggests that employers are not as concerned about a weaker global growth and the waning benefits from tax cuts.

Although there is a hiring spree, this job report could complicate a decision that the Federal Reserve will have to make on whether to cut interest rates that will help support the economy.

Most investors anticipate that the Federal Reserve will make the decision to cut interest rates.