BREAKING NEWS ALERT NYTimes Friday, July 5, 2013 8:35 AM EDT U.S. Added 195,000 Jobs in June; Unemployment Rate Remains 7.6% The economy added 195,000 jobs in June, the Labor Department reported Friday morning, slightly more than analysts had been expecting and suggesting steady growth. Wall Street has been feverishly awaiting the June employment report. Not only does it provide another indicator of overall economic strength, it also affects the timing of the Federal Reserve’s decision to start tapering a major part of its stimulus efforts. A strong report increases the likelihood the central bank will start pulling back on its bond purchases as early as September, a prospect that has made some investors more cautious in recent weeks. On the other hand, signs of weakness in the labor market would likely prolong the Fed’s program of purchasing $85 billion in bonds per month. Along with job creation, the Fed is closely watching unemployment levels. The unemployment rate, which is based on a separate survey from the one that tracks jobs, remained at 7.6 percent, unchanged from May.
Posted on: Fri, 05 Jul 2013 13:10:43 +0000
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