New Delhi, July 4 (UNI) The US economy crossed the borders of expectations by adding 1,47,000 jobs last month, beating its previous records. This news infuses optimism in the global economy amid the unprecedented layoff times.
The addition of 1,47,000 jobs surprised the US labour market due to the uncertain policies. After the arrival of this news, stock markets also rose and showed signs of positivity.
The number of jobs added has surpassed the expectations of economists, as they anticipated a drop. Senior economist Sarah House, associated with Wells & Fargo, said, “At first glance, the report is good, but when you analyze it deeply, it is similar to the previous ones.”
Unemployment rates in the US also fell to 4.1 % from 4.2% according to the reports of the Bureau of Labor Statistics. June job increases in the United States contributed to employment in different roles, including healthcare, social assistance, leisure, hospitality, and others.
Cory Stahle (Indeed Hiring Lab Economist) said, “The job market boom in the United States is hollow except in the sectors of healthcare, local government, and social assistance.”
