Wages are Going Up and Unemployment is Down!
Posted by Florida Realty Marketplace on
One day after announcing that unemployment claims rose for the third straight week, the Labor Department announced that job growth surged past expectations in June. The latest figures from the Bureau of Labor Statistics showed that non-farm payroll jobs reached 222,000 last month, well past the expected gain of 180,000.
The Labor Department credited increased worker hours for the surge. The average workweek increased from 34.4 to 34.5 hours per week from may to June. Employment increased in health care (up 37,000 jobs), social assistance (up 23,000), financial activities (up 17,000), and mining (up 8,000).
Employment in other major industries, including construction, manufacturing, wholesale trade, retail trade, transportation and warehousing,…
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