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US economy adds 288,000 jobs in June

The US economy added 288,000 jobs in June, latest figures from the Bureau of Labor Statistics have shown.

The unemployment rate dropped to 6.1%, its lowest level since September 2008.

That figure beat analysts’ expectations and is an encouraging sign for investors and policymakers after disappointing growth in the first quarter of 2014.

Economists blamed harsh winter weather for a 2.9% annualised decline in US economic output from January to March.

Jobs growth in professional and business services was particularly strong, with 67,000 jobs being created, followed by gains in the retail sector, which added 40,000 jobs.

Hourly wages – which is a measure watched closely by policy makers and has been recently highlight by Federal Reserve chair Janet Yellen – rose 0.2% in June and have climbed 2.0% for the year.(BBC)


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