US economy adds more jobs than expected in June

The employment report issued by the US Department of Labor showed that the US economy added 372 thousand jobs in June, the fourth consecutive month of job gains that exceeded 350 thousand jobs, and the professional and commercial services industry added 74 thousand jobs in June, and the entertainment and hospitality sector added 67 thousand jobs. US President Joe Biden said in a statement after the jobs report that "no country is in a better position than America to reduce inflation without giving up all the economic gains we've made over the past 18 months." Average hourly earnings rose 0.3% in June versus 0.4% in May, and on an annualized basis average earnings fell to 5.1% in June versus 5.3% in May, and the average workweek remained steady at 34.5 hours and the unemployment rate remained at 3.6% for the fourth consecutive month.