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US Unemployment Hits Seven-year Low After Adding 223,000 Jobs in June
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02.07.2015
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.
However, the Labor Department said the biggest reason for the fall in the unemployment rate was because people out of work gave up looking for a job and were thus no longer counted as unemployed.
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.
However, the Labor Department said the biggest reason for the fall in the unemployment rate was because people out of work gave up looking for a job and were thus no longer counted as unemployed.
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