This week, the Bureau of Labor Statistics (BLS) reported that employers added 147,000 jobs in June, causing the unemployment rate to drop from 4.2% to 4.1%. Economists had previously estimated that 110,000 jobs were added in June. State and local government hiring boosted the job gains as government employment accounted for 73,000 of the new jobs in June. Healthcare added 39,000 jobs in June, while employment showed little change in other major industries, including construction, manufacturing, mining, and oil and gas extraction.
