Private companies added 281,000 jobs last month, well above economists’ expectations.
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U.S. employment growth jumped in June and the jobless rate closed in on a six-year low, decisive evidence the economy was moving forward at a brisk clip after a surprisingly big slump at the start of the year.The economy has added an average of 231,000 jobs per month this year, the highest six-month average since 2006 .Prices for U.S. Treasuries fell, while the U.S. dollar gained against a number of major currencies, as traders bet on an earlier interest rate hike from the Federal Reserve.The 12-month gain slipped to 2.0 percent from 2.1 percent, suggesting little build up in wage-related inflation pressures.Nevertheless, the labor force participation rate, or the share of working-age Americans who are employed or at least looking for a job, was steady at 62.8 percent, a low struck in December for the first time since 1978 .A broader measure of unemployment, which includes people who want a job but have given up searching and those working part-time because they cannot find full-time jobs, fell to 12.1 percent, the lowest level since October 2008 .
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