June Job Gains Beat Expectations
Leisure And Hospitality Among Strong Sectors Leading Way
Beating economists' predictions, the U.S. economy added 195,000 jobs in June, according the Bureau of Labor Statistics. The strongest gains were experienced in leisure and hospitality, professional and business services, retail, health care, and financial sectors. On average, economists had predicted a gain of about 165,000 positions.
The economy has now added private sector jobs for 40 consecutive months, and a total of 7.2 million jobs have been added over that period. Despite monthly fluctuation, the pace of job growth over the last three years has increased annually. In 2013, 1.23 million private sector jobs have been added.
Despite the June job additions, the unemployment rate in the U.S. remained at 7.6%. Continuing an ongoing pattern of decline, employment within the federal government dropped by 5,000 positions in June. Over the last year, the federal government has shed 65,000 jobs.
According to the Bureau of Labor Statistics, employment in most other major industries, including mining and logging, construction, manufacturing, and transportation and warehousing, showed little change in June.