The U.S. economy added 224,000 jobs during the month of June, which is well higher than the expected number of 165,000.

BREAKING: U.S. economy added 224,000 jobs in June vs. expectations of 165,000 increase; unemployment rate rises to 3.7%https://t.co/gzzWrQV2Fd pic.twitter.com/ktK1huVqiX — CNBC Now (@CNBCnow) July 5, 2019

As CNN puts it, the U.S. economy is currently “blowing away expectations.”

CNN (Yes, CNN) Correspondent: June Jobs Report “Blowing Away Expectations” pic.twitter.com/Xj8ukfgloE — Arthur Schwartz (@ArthurSchwartz) July 5, 2019

The unemployment rate ticked up a tenth of a percentage from 3.6 to 3.7 percent as well, which due to more Americans than estimated entering the workforce.

✅224,000 new jobs created

✅3.1% wage increase

✅105 straight months of job growth

✅More Americans than estimated entering the workforce The latest Labor Dept. report shows why pro-growth policies mean more jobs & higher incomes for all Americans. https://t.co/h6hikNvGIK — Jim Banks (@RepJimBanks) July 5, 2019

Perhaps the biggest winner from the jobs report was the manufacturing sector, which added over 17,000 jobs, far higher than its previous 2019 per-month average of 8,000.

Manufacturing employment rebounded in June after a lackluster start to the year. https://t.co/Wk0eLPlPKG pic.twitter.com/p10vMUYvl0 — Real Time Economics (@WSJecon) July 5, 2019

Wages rose more than three percent over last year.

The economy created 224,000 jobs in the month of June. the unemployment rate ticked up to 3.7%, but because the size of the labor force grew. Wages grew 3.1% over the past 12 months. #Jobs #Economy — Edward Lawrence (@EdwardLawrence) July 5, 2019

All in all, a solid report.

Now the question is whether this report will influence (possibly dissuade) the Federal Reserve from cutting interest rates later this month.

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