U.S. economy adds 195K jobs

U.S. employers added 195,000 jobs in June and hiring was more robust in the two previous months than earlier estimated. The gains raise hopes for a stronger economy in the second half of 2013.

The Labor Department said Friday that the economy also added 20,000 more jobs in May and 50,000 more in April than initially reported. The unemployment rate stayed at 7.6 percent, but for a good reason: More people started looking for work. The government counts people as unemployed only if they are searching for jobs.

Americans' paychecks rose at a healthy pace and have outpaced inflation in the past year. Average hourly pay increased 10 cents to $24.01. That's 2.2 percent higher than a year ago. Over the 12 months ending in May, consumer prices rose 1.4 percent. Continue reading "U.S. economy adds 195K jobs"