The U.S. economy gained 850,000 jobs in June and the unemployment rate rose to 5.9 percent, from 5.8 percent, a sign that the recovery of the world’s largest economy is building momentum after misses in April and May.
Economists had expected gains of roughly 700,000 jobs and a drop of 0.1 to 0.2 percent in the unemployment rate as Americans have increased activities like air travel, staying at hotels, eating in restaurants and visiting movie theaters.
The positive employment report, released Friday by the Bureau of Labor Statistics, was cheered by economists.
“June’s better-than-expected payroll gains provide some needed reassurance that the healing of the job market remains a work in progress,” said Mark Hamrick, senior economic analyst at Bankrate. “The June showing is solidly above this year’s monthly average pace of more than 500,000 jobs added or recovered.”