Hiring rebounds in June, easing fears of a U.S. recession

The U.S. economy added 224,000 jobs in June, surging past expectations and helping ease fears about the nation’s economic health in the midst of President Trump’s trade war.

According to @BLS_gov, the economy added 224k jobs in June, far surpassing market expectations and reflecting continued strength in the labor market and the U.S. economy overall. #BLSdata

— CEA (@WhiteHouseCEA) July 5, 2019

The unemployment rate inched up, to 3.7 percent, the U.S. Labor Department said Friday, but it remains near a half-century low. The rate increased because more Americans entered the labor force, meaning they found jobs or are actively searching for one again.

Many companies say they are struggling to find enough workers to fill all their job openings as the unemployment rate has been at or below 4 percent for more than a year.

The unemployment rate in June was 3.7%, the 16th consecutive month at or below 4%.

— CEA (@WhiteHouseCEA) July 5, 2019

The strong numbers exceeded analysts’ expectations of 162,000 jobs in June and represent a significant rebound from the meager 72,000 positions added in May, which sparked off fears that the economy might be losing momentum.