- Title: U.S. job growth picks up in June; unemployment rate rises to 5.9%
- Date: 2nd July 2021
- Summary: NEW YORK, NEW YORK, UNITED STATES (JULY 2, 2021) (REUTERS) (SOUNDBITE) (English) MIZUHO SECURITIES USA, U.S. CHIEF ECONOMIST, STEVEN RICCHIUTO, SAYING: "You know, the composition of employment is improving the way we expected. It's a very, very solid number. It's consistent with a very, very strong growth environment. Is it strong enough a growth environment to force this Fed away from their new policy program that's been in effect almost for a year now? I don't think so. And that's the real discussion that's really dominating the markets right in here." NEW YORK, NEW YORK, UNITED STATES (RECENT) (REUTERS) VARIOUS OF PEOPLE ON THE STREETS
- Embargoed: 16th July 2021 17:06
- Keywords: COVID-19 business coronavirus-induced closures employment jobless claims jobs money sales stores traffic unemployment vaccinations
- Location: NEW YORK, NEW YORK, + WASHINGTON, D.C., UNITED STATES
- City: NEW YORK, NEW YORK, + WASHINGTON, D.C., UNITED STATES
- Country: USA
- Topics: Economic Events,Equities Markets,United States
- Reuters ID: LVA003EK5G5DZ
- Aspect Ratio: 16:9
- Story Text: U.S. job growth accelerated in June as companies, desperate to boost production and services amid booming demand, raised wages and offered incentives to draw millions of reluctant unemployed Americans back into the labor force.
Nonfarm payrolls increased by 850,000 jobs last month after rising 583,000 in May, the Labor Department said in its closely watched employment report on Friday (July 2).
The unemployment rate rose to 5.9% from 5.8% in May.
The jobless rate has been understated by people misclassifying themselves as being "employed but absent from work."
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%.
(Production: Aleksandra Michalska, Andrew Hofstetter)
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