U.S. economy adds 222000 jobs in June

The unemployment rate for post-9/11 veterans was 5.1 in June, up from 4.6 percent in May and the highest unemployment rate recorded for the group since January, according to the latest monthly employment figures from the U.S. Bureau of Labor Statistics.

US employers added 222,000 jobs in June, the US Labor Department said.

But it's close, and a stronger than expected report on June job growth pulled Trump closer to his predecessor. Health care posted the biggest job gain - 59,100 - despite uncertainty around health care legislation in Congress. Governments added an unusually high 35,000 positions, almost all of them at the local level.

Analysts surveyed by Bloomberg had predicted an increase of about 170,000 jobs and an unemployment rate of 4.3%. Since January, the unemployment rate and the number of unemployed are down by 0.4% and 658,000, respectively.

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Although more Americans joined the labor force and found jobs in the month of June, the number of unemployed also increased.

Even with June's strong hiring, average hourly pay rose just 2.5 percent from a year earlier, below the 3.5 percent typical of a healthy economy.

Health care employment is also in a growth mode, though not quite as vigorously as past year.

Employment growth has averaged 180,000 per month so far this year, in line with the average monthly gain of 187,000 in 2016. But the automobile sector lost a further 1,300 jobs as slowing sales and bloated inventories force manufacturers to cut back on production.

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The Federal Reserve monitors the barometers of wage growth for any evidence that inflation might be starting to pick up. That's fewer than the 659,000 created during the final four months of the Obama administration, which Trump criticized for its job growth.

"It's a good report for the economy", said John Silvia, chief economist at Wells Fargo.

An alternative measure of unemployment that counts discouraged workers and those holding part-time positions for economic reasons - the underemployed - rose from 8.4 percent to 8.6 percent.

President Bill Clinton's five-month totals were 948,000 jobs added in his first term (in 1993) and 1.4 million in his second term (in 1997). But most economists have forecast that growth rebounded in the April-June quarter to an annual rate of 2.5 percent or higher. The Federal Reserve Bank of San Francisco calculated previous year that 80 percent of those formerly part-time workers who obtained full-time jobs did so at wages below the national median level of pay.

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