DHAKA: The US economy created 287,000 jobs in June, rebounding strongly from disappointing growth in May.

The figure was much stronger than forecast, and the dollar and yields on US government bonds rose in the belief a US rate rise was now more likely.

The Labor Department revised down May’s already weak first estimate of 38,000 jobs to just 11,000, reports the BBC.

The unemployment rate, which is derived from a different data set, rose to 4.9% in June from 4.7% the month before.

The change in the jobless rate reflected a rise in the number of people registering that they were looking for work, generally regarded as a sign of confidence in the economy.

The growth in jobs was seen across a variety of sectors. Manufacturing employment - which had dropped by 16,000 in May - rose by 14,000, there were 29,900 more jobs in the retail sector, and the leisure and hospitality sectors gained 59,000 jobs.

May’s weak jobs figure had been depressed by a strike by 35,000 Verizon workers. Their return to work helped to boost information technology employment by 44,000.

The Labor Department figures indicated that wage growth remained tepid, rising by just 0.1% in June from the month before.

However, earnings were 2.6% higher compared with June last year, up from a rate of 2.5% in May.

Market watchers welcomed the stronger-than-expected jobs figures.

BDST: 1453 HRS, JUL 09, 2016
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