Sparklers, not Fireworks, in June Jobs Report
- Employers added 223,000 new jobs in June, while the unemployment rate fell to 5.3 percent. Although nearly within striking distance of the Fed’s range for full employment, June’s decline was largely driven by another drop in the participation rate.
- Consumer confidence jumped 6.8 points in June on the back of better assessments of the labor market and business conditions.
- The ISM manufacturing index rose for the third straight month. However, at 53.6, the index indicates that growth in the factory sector remains modest.
Click here to read the full Wells Fargo Weekly Economic & Financial Commentary for July 2, 2015.Tags: economy, jobs