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Report: U.S. economy creates 372,000 jobs in June

A "now hiring" sign is seen in the window of a fast-food restaurant in Orange, Calif., on January 27, 2021. The economy created 372,000 jobs in June, according to the Labor Department. File Photo by Jim Ruymen/UPI | <a href="/News_Photos/lp/877c29a4d948d7af75eaba899cdda29a/" target="_blank">License Photo</a>
A "now hiring" sign is seen in the window of a fast-food restaurant in Orange, Calif., on January 27, 2021. The economy created 372,000 jobs in June, according to the Labor Department. File Photo by Jim Ruymen/UPI | License Photo

July 8 (UPI) -- The U.S. economy created 372,000 jobs in June, according to a Labor Department report released Friday, beating Wall Street predictions despite slowing growth.

The country's unemployment rate held at 3.6%, as the June total for nonfarm payroll employment surpassed the 250,000 jobs forecast by Dow Jones.

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The economy saw the strongest job growth in professional and business, leisure and hospitality and the healthcare sectors.

The economy had created 384,000 in May and 368,000 in April.

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"The labor market is still running hot even though the temperature has come down by a few degrees," Daniel Zhao, senior economist at Glassdoor, told the Washington Post. "We did see recession concerns pick up significantly in June, but labor demand seems to be holding up."

The report said the unemployment rate for Asians increased to 3.0% in June, while hovering at 3.3% for Whites, 5.8% for Blacks and 4.3% for Hispanics.

The report said the total nonfarm employment remained down from its pre-pandemic numbers by 524,000, or 0.3%. Private-sector employment has recovered the net job losses due to the pandemic and is 140,000 higher than in February 2020, while government employment is 664,000 lower.

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The department said professional and business services increased by 74,000 in June. Within the industry, job growth happened in management of companies and enterprises (12,000), computer systems design and related services (10,000), office administrative services (8,000), and scientific research and development services (6,000).

Average hourly earnings in June for all employees on private nonfarm payrolls rose by 10 cents, or 0.3%, to $32.08.

Over the past 12 months, average hourly earnings have increased by 5.1%. In June, the average hourly earnings of private-sector production and nonsupervisory employees rose by 13 cents, or 0.5%, to $27.45.

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