It’s that time of month again! The first Friday of the month only means one thing: The monthly jobs report was issued by the Department of Labor and per the numbers, the unemployment rate rose from 7.5 percent to 7.6 percent. Employers added 175,000 jobs in May which was better than originally anticipated. As pointed out by USA Today, economists originally estimated the magic number was going to be 165,000 new jobs.
Technically, businesses added 178,000 jobs whereby federal, state and local governments cut 3,000. Job gains held steady in professional and business services, leisure and hospitality and retail. Read more