Stocks Higher as US Economy Creates 287,000 Jobs in June - NBC4 Washington

Stocks Higher as US Economy Creates 287,000 Jobs in June

The country's unemployment rate came in at 4.9 percent

    Winter Olympics PyeongChang 2018 Medal Count
    Country
    Total
    1
    Norway
    13121035
    2
    Canada
    108927
    3
    Germany
    137525
    processing...

    NEWSLETTERS

    Mother of Five Scared Straight After Heart Attack in her 40s
    Getty Images
    A now hiring sign is seen in the window of a business in Miami, Florida. U.S. government data released today showed the economy added 287,000 jobs last month.

    The U.S. economy added 287,000 jobs during the month of June, beating expectations and wowing investors, CNBC reported. 

    Economists expected non-farm payrolls to jump by 175,000 for the month. The unemployment rate also came in above expectations at 4.9 percent. 

    The news boosted European stocks, which closed higher Friday. U.S. markets also saw an increase on the news, but analysts aren’t convinced it will change the near-term outlook when it comes to the U.S. Federal Reserve raising interest rates.

    A hiring slowdown in the month of May and the Brexit referendum in the United Kingdom forced the Fed to keep interest rates on hold last month.