The pace of U.S. hiring accelerated in June, with payrolls increasing by the most in 10 months, suggesting firms have greater success recruiting workers to keep pace with the economy’s reopening.
Nonfarm payrolls jumped by 850,000 last month, bolstered by strong job gains in leisure and hospitality, a Labor Department report showed last week.
The gain in payrolls, while well above expectations, does not markedly raise pressure on the Federal Reserve to pare monetary policy support for the economy. Even with the latest advance, U.S. payrolls are still 6.76 million below their pre-pandemic level. Read more.