US economy adds 224,000 jobs in June

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The US economy added 224,000 jobs in June, a strong comeback for the labor market after a disappointing May.

The unemployment rate rose to 3.7%, the highest level since March 2019 but still historically low.

The number substantially beat the expectations of analysts, who had forecast a drag on jobs because of business uncertainty around high trade tensions as well as a lackluster housing market.

Adding to the positive story, 335,000 people entered the labor force in June — substantially more than usual — which may have been what pushed the unemployment rate up slightly. It’s a remarkable feat for an economy that has been soaking up workers for 106 straight months, and an indication that people are still finding reasons to go back to work.

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