US unemployment hits seven-year low after adding 223,000 jobs in June
by Rupert Neate and Dominic Rushe New York from Economics | The Guardian on (#D3JD)
- Rate of 5.3% is level that government considers full employment
- Number of added jobs falls slightly short of expectations
The US unemployment rate has fallen to 5.3% - the lowest in seven years - after the economy added 223,000 jobs in June.
The drop in the unemployment rate from 5.5% in May to 5.3% June takes it to the level that the US government considers full employment, and heightens expectations that the Federal Reserve will raise interest rates as soon as September.
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