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June Payrolls Big Beat: 850K Jobs Added Smashing Expectations As Unemployment Rate Rises
After several months of major payroll disappointments, the BLS finally realized it has to come up with a strong number and it did just that moments ago when it reported that in June the US added 850K jobs, well above the 720K expected, and almost 50% more than last month's 583K, in a welcome sign that the chronic labor shortages may finally be ending. image Despite the stronger than expected monthly increase, the US is still 7.6 million people below its pre-Covid level. image Below are all the key details from today's report: • Nonfarm payrolls rose 850k vs prior 583k in prior month (net revisions +15k from ... (full story)
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