Consumer Confidence: Unemployment Rate

unemployment rate: The economy gained a robust 195,000 jobs in June and many more in April and May than previously thought. The unemployment rate remained 7.6 per cent in June because more people started looking for jobs a healthy sign and some didnt find them. The government doesnt count people as unemployed unless they re looking for work, according to 660 News. The job growth is being fueled in part by consumer spending and the housing recovery. Consumer confidence has reached a 5 1/2 year high and is helping drive up sales of homes and cars. Hiring was especially strong in June among retailers, hotels, restaurants, construction companies and financial services firms and WASHINGTON U.S. employers are sending a message of confidence in the economy hiring more workers, raising pay and making the job market appear strong enough for the Federal Reserve to slow its bond purchases as early as September. The Labor Departments report Friday pointed to a U.S. job market thats showing surprising resilience in the face of tax increases, federal spending cuts and economic weakness overseas. Employers have added an average 202,000 jobs for the past six months, up from 180,000 in the previous six. (www.immigrantscanada.com). As reported in the news.