Despite job gains in June being the best for the year, forward momentum in the labor market has slowed. Nonfarm payrolls increased by 287,000 jobs last month, the largest gain since last October, the Labor Department said on Friday. The sign of strength in the economy, however, precedes Britain's stunning vote last month to leave the European Union. Economists say the deceleration is normal given the relatively advanced age of the economy's recovery from the 2007-09 recession, with the labor market now near full employment. Government added 22,000 jobs, but construction payrolls were unchanged after two months of declines and mining lost another 5,000 positions.

Source: The Star July 08, 2016 18:11 UTC