U.S. job growth rebounded in June as employers added 224,000 jobs, an indication of the economy’s durability after more than a decade of expansion.
The Labor Department says the solid gain came after weak job growth of just 72,000 in May. The burst of hiring last month may suggest that employers are shaking off concerns about weaker global growth and the waning benefits from tax cuts. The unemployment rate ticked up to 3.7%, up from 3.6% for the previous two months as more people began searching for work.
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The strength of the jobs report could complicate a decision for the Federal Reserve late this month on whether to cut interest rates to help support the economy. Most investors anticipate a rate cut.
Hourly wages rose 3.1% from a year ago.
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