Over the weekend, CNBC reported that the payroll growth “rebounded sharply” in June.
CNBC’s Jeff Cox wrote that “the U.S. economy added 224,000 jobs, the best gain since January and running contrary to worries that both the employment picture and overall growth picture were beginning to weaken.”
According to the Labor Department, the unemployment rate increased from 3.6% to 3.7% with the rise in labor force participation. Additionally, the stock market opened lower, and government bond yields rose.
Cox concluded that “overall, the jobs report allayed fears that the labor market was weakening significantly.” After the numbers were shrinking in April and May, this June rebound hopefully signifies the return to a strong increase in American jobs.