The U.S. economy continues to boom. In June, 224,000 jobs were added, while the unemployment rate rose slightly to 3.7 percent, according to Department of Labor data released Friday, July 5.
According to a report by the Bureau of Labor Statistics, the 224,000 jobs added are twice the number expected by economists.
These 224,000 jobs (nonagricultural) in the sixth month of the year, greatly exceed the 72,000 in May, largely due to the upturn in recruitment in the professional services sector, health, and transport of goods.
The number of employees in the professional services sector grew by 51,000, while the health sector created 35,000 jobs. For its part, the sector of transport and storage of goods added 24,000 jobs.
The number of construction workers grew by 21,000, while that of manufacturing industries rose by 17,000.
The number of adults working or looking for work remained stable at 6 million, according to the Department of Labor. The agency also reported that employment growth averaged 172,000 per month so far this year, compared with 223,000 per month in 2018.
The unemployment rate remained stable between 4 percent and 3.7 percent for more than a year before the April report showed a fall to 3.6 percent.
In periods of economic growth, the steady unemployment rate suggests that workers are returning to the workforce to fill vacancies, rather than receiving unemployment benefits, according to the Wall Street Journal.
Unemployment rates also show the lowest numbers in 50 years.
“The 224,000 jobs added were broad-based, from manufacturing to construction to business services,” said Robert Frick, a corporate economist at Navy Federal Credit Union, according to the Daily Caller.
Frick added that workers may be worried that wages won’t rise faster.