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Unemployment Rate No Longer Starts With a 3

Ticks up to 4%
By Kate Seamons,  Newser Staff
Posted Jul 6, 2018 7:45 AM CDT

(Newser) – The unemployment rate rose to 4% in June, up from the 18-year low of 3.8%. The uptick comes as 213,000 jobs were added, which exceeded analysts' expectation of 195,000, per the Wall Street Journal. It calls that jobs count "another strong reading in a string of upbeat reports recently." As for what drove the rate increase, more people are looking for work—some 601,000 of them, per the Journal. The AP reports average hourly pay is up 2.7% year-over-year, with the low unemployment rate leading employers to push up wages in order to get positions filled. Still, the Journal calls that wage growth "modest," noting 2.8% was expected. (Read more unemployment rate stories.)

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