Job Creation Showed Surge During June --- Surprisingly Large Increase Boosts Likelihood Fed Will Lift Interest Rates
WASHINGTON -- The government's latest employment report, although distorted by quirks of the calendar and temporary hiring related to the World Cup, shows the economy continues to grow at a strong pace and increases the likelihood that the Federal Reserve will raise interest rates in the coming months.</br></br>The Labor Department said employers added 379,000 jobs in June, a</br></br>surprisingly large number, and it boosted its estimate of job growth in</br></br>May to 252,000. The unemployment rate remained steady at 6% of the work</br></br>force. That surprised many who considered the large May decline of 0.4