That’s great, but honestly, not that much different from what we were seeing under Barack Obama.
There were some positive signs, though they aren’t much. The labor force participation rate, at historic lows, moved up a bit and wage gains were modest, though they felt better due to decreasing inflation.
From the Wall Street Journal:
Nonfarm payrolls rose by a seasonally adjusted 222,000 from the prior month, the Labor Department said Friday. The unemployment rate ticked up to 4.4% from 4.3% the prior month as more people joined the workforce.
Economists surveyed by The Wall Street Journal had expected 174,000 new jobs and a 4.3% unemployment rate in June.
April’s nonfarm payrolls were revised up to 207,000 and May’s tally up to 152,000, a net increase of 47,000.
The U.S. labor market has been a bright spot in a long recovery marked by slow overall growth. But even with 81 consecutive months of job creation, a historically large share of Americans have opted out of the workforce and wage gains have remained below prerecession levels.
Average hourly earnings for private-sector workers rose 2.5% in June compared with a year earlier, little changed from prior months. In one positive sign, the average workweek rose by 0.1 hour to 34.5 hours.