US job growth rebounds with 224,000 created in June, quelling fears of economic slowdown

US employers added 224,000 jobs Opens a New Window. in June, beating Wall Street Opens a New Window. ’s expectations of 160,000 likely quelling some concerns about an impending economic slowdown on the heels of a worse-than-expected month for job creation.

The unemployment rate ticked up slightly at 3.7 percent, while the labor force participation rate was also little unchanged at 62.9 percent. Average hourly earnings, meanwhile, rose by 6 cents to $27.90. Over the year, average hourly earnings have increased by 3.1 percent, slightly missing expectations of 3.2 percent growth.