US added 850,000 jobs in June - but unemployment RISES from 5.8% to 5.9%

US added 850,000 jobs in June - but unemployment RISES from 5.8% to 5.9%
US added 850,000 jobs in June - but unemployment RISES from 5.8% to 5.9%
BREAKING NEWS: US added 850,000 jobs in June - but unemployment INCREASED from 5.8% to 5.9% and there are a record 9.3million job openings The Labor Department released their June jobs report on Friday  The increase in Americans on nonfarm payrolls beat expectations of 706,000 But the unemployment rate was expected to fall to 5.7%  Hiring has accelerated as the country returns to normal and more are vaccinated But there are still concerns of labor shortages across the country  There are a record 9.3 million job openings 

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The US added 850,000 jobs in June but unemployment rose from 5.8 percent to 5.9 percent, the Labor Department revealed Friday.

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The increase in Americans on nonfarm payrolls beat expectations of a rise of 706,000, but the unemployment rate was expected to fall to 5.7 percent.

Hiring has been accelerated as the country returns to normal and more people get vaccinated, but there are still concerns of labor shortages across the country.

Politicians, businesses and some economists have blamed enhanced unemployment benefits, including a $300 weekly check from the government, for the labor crunch. 

Lack of affordable child care and fears of contracting COVID have also been blamed for keeping workers, mostly women, at home.

The jobless rate has been understated by people misclassifying themselves as being 'employed but absent from work.' 

The labor force participation rate was unchanged at 61.6 per cent. 

There are a record 9.3 million job openings. Economists polled by Reuters had forecast payrolls advancing by 700,000 jobs last month and the unemployment rate dipping to 5.7 percent.

The US added 850,000 jobs in June but unemployment rose from 5.8 percent to 5.9 percent, the Labor Department revealed Friday. Joe and Jill Biden are pictured arriving at the White House after their trip to the collapsed Miami condo on Thursday

The US added 850,000 jobs in June but unemployment rose from 5.8 percent to 5.9 percent, the Labor Department revealed Friday. Joe and Jill Biden are pictured arriving at the White House after their trip to the collapsed Miami condo on Thursday

Average hourly earnings rose 0.3% last month after increasing

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