US economy adds 147,000 jobs in June, exceeding expectations

ISTANBUL

The US economy added 147,000 jobs in June, more than market expectations, according to data from the Labor Department on Thursday.

The market expectation for nonfarm payrolls last month was set to show a gain of 111,000.

Job additions for May, meanwhile, were revised up by 5,000, from 139,000 to 144,000.

"Job gains occurred in state government and health care. Federal government continued to lose jobs," the department said.

The unemployment rate, on the other hand, inched down to 4.1% in June from 4.2% in May, below forecasts.

The number of unemployed people was little changed at 7 million in June, while the labor force participation rate was at 62.3%.

Meanwhile, the employment-to-population ratio was also stable at 59.7% in June, according to the Labor Department.

The number of people not in the labor force but currently wanting a job in June was little changed at 6 million.

"These individuals were not counted as unemployed because they were not actively looking for work during the 4 weeks preceding the survey or were unavailable to take a job," it said.

The average hourly earnings for all employees on non-farm payrolls rose 0.2% to $36.30 in June compared to May while it was up by 3.7% on an annual basis.