The U.S. Bureau of Labor Statistics reported that 195,000 jobs were added in June, about 40,000 more than anticipated. The June jobs report also provided revised numbers that showed hiring during April and May edged up, too, with estimates showing 50,000 new positions added in April and 20,000 in May.
Unemployment remained steady at 7.6 percent.
Areas where jobs were added include leisure and hospitality, which added almost half of all new jobs (75,000) in June. Food service jobs added the bulk of employment within the leisure and hospitality industry, or about 52,000 positions. Other industries in which hiring strengthened include retail trade, which added 37,000 jobs.
Another sign of a strengthening economy is the boost in construction-related employment. About 13,000 jobs were added to the industry, bringing the total to more than 100,000 new jobs in 2013.
According to Forbes, when construction, leisure and hospitality-related jobs rise, it shows increasing confidence in the economy. People are willing to spend on new construction, leisure time activities, vacations and dining experiences, things they typically cut back on during a belt-tightening recession.
The Wall Street Journal calls this a “consumer-driven” economic recovery, one in which consumer spending is improving the overall economic picture. Government and manufacturing are seen as a continual drag on the economic improvement rather than a driver of job growth and economic health.
June is traditionally the month when recent college graduates seek employment. With new jobs added, especially in business and professional industries requiring a college degree, employment prospects appear better this June than last June. Last year at this time, the BLS reported only 80,000 new jobs were added and the unemployment rate was holding steady at 8.2 percent.
The positive signs in the 2013 June jobs report, according to CNN Money, indicate that the underlying foundation of the economy remains strong.
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