The U.S. economy had more good news as it added another 132,000 jobs in June, while paychecks grew by 0.3 percent to reach an average hourly wage of $17.38. For the last year, wages in the U.S. have surged by 3.9 percent, according to the Labor Department.
Areas where job growth was the strongest were food services, health care, education and government. Even the construction industry added jobs, in spite of the housing slump. Unemployment remained at a healthy 4.5 percent as a result of the job growth. It's remained at that level for the last three months.
Other good news for unemployment was that the second quarter was much stronger than government estimates for hiring, as 75,000 more jobs were added than orginally thought. That's a huge amount, confirming economists belief that there was a strong rebound in the second quarter.
This shows that companies are shrugging off the housing slump and gas prices and looking to grow their companies. Increased wages also shows companies are overall healthy and increasing revenues. Things are gradually picking up speed in the U.S. economy.
With the stronger-than-expected second quarter, the economy is projected to be growing at a 3 percent or better rate. Later in the month official government estimates will be released.
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