Job growth in the US came in much higher than expected in June, with the economy adding 850,000 jobs last month, which was significantly higher than the 583,000 jobs added in May and 269,000 in April.
Last month’s jobs gain was the biggest since August 2020, when employers added 1.6 million jobs.
While the June jobs report serves as an indication that the US economy is continuing to recover from the devastating impact of the covid-19 pandemic, the recovery “remains slow and even”, according to Sameer Samana, a senior global market strategist at Wells Fargo Investment Institute (via Fox Business)
Hospitality & Leisure sees largest jobs gain
The largest share of jobs growth was seen in hospitality and leisure, one of the worst-affected sectors by the pandemic, with 343,000 jobs added.
Public and private sector education added 269,000 jobs, while business services (+72,000 jobs), retail trade (+67,000), and other services…