U.S. tops June expectations by adding 850,000 jobs

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US Tops June Expectations , by Adding 850,000 Jobs.On July 2, the Labor Department reported that nonfarm payrolls increased by 850,000, .surpassing the Dow Jones estimate of 706,000.The news, combined with the unemployment rate falling below 10% for the first time since March 2020, prompted markets to rise.The news, combined with the unemployment rate falling below 10% for the first time since March 2020, prompted markets to rise.From a market perspective, this was an all-out positive jobs report, Seema Shah, chief strategist at Principal Global Investors, via CNBC.The improvement today likely reflects a slight easing of the labor supply constraints that have been holding back the jobs market in recent months, as well as continued momentum from the economic reopening, Seema Shah, chief strategist at Principal Global Investors, via CNBC.The improvement today likely reflects a slight easing of the labor supply constraints that have been holding back the jobs market in recent months, as well as continued momentum from the economic reopening, Seema Shah, chief strategist at Principal Global Investors, via CNBC.Average hourly earnings also increased .33% in June and 3.6% year over year.The hospitality industry continued to see the most job gains