US economy added 372,000 jobs in June, beating estimates; unemployment rate holds at 3.6%

• July 8, 2022
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The U.S. labor market remained solid in June as hiring paced ahead of expectations.

U.S. employers added 372,000 jobs during the month compared with 390,000 in the prior month signaling inflation is having a limited impact on hiring thus far. The unemployment rate held steady at 3.6% for the third month in a row.

Industries leading the gains included professional and business services, leisure and hospitality, and health care, according to the Bureau of Labor Statistics. 

The manufacturing sector, a close gauge for the economy, added 29,000 jobs up from 15,000 in June.

Average earnings rose 5.1% year over year compared with 5.2% in May.