Added company perks seen to lift U.S. June employment
A raise in wages and additional incentives lured millions of unemployed Americans back into the labor force causing a likely jump on the U.S. employment rates in June.
The economic resumption driven by lifting Covid-related restrictions believed to have ramped up growth momentum at the end of the second quarter. This is expected to reflect on the U.S. job report from the Labor Department today.
Continuous vaccination has been an important factor in easing pandemic restrictions. As of now, more than 150 million people are fully vaccinated in the U.S.
However, employment gains would probably be less than the anticipated one million or more per month the economists forecasted at the start of the year.
Nonfarm payrolls likely rose by 700,000 jobs last month after jumping 559,000 in May, higher than the monthly average of 540,000 over the past three months. Despite this, employment would still be about 6.9 million jobs below its peak in February 2020.