Market Insight July 2021

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July 6, 2021 No comments

U.S. Jobs Jump By Most In 10 Months As Economy Gains Steam

The pace of U.S. hiring accelerated in June, suggesting firms are having greater success recruiting workers to keep pace with the economy’s reopening.

The unemployment rate edged up to 5.9% because more people voluntarily left their jobs and the number of job seekers rose.

Wage growth is also picking up as businesses raise pay to attract candidates. The June jobs report showed a hefty 2.3% month-over-month increase in non-supervisory workers’ average hourly earnings in the leisure and hospitality industry. Overall average earnings rose 0.3% last month.

Source: Bloomberg, 07.02.2020

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