Private Sector Adds 157,000 Jobs for June, Beating Expectations

Hiring by small businesses led the charge

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Some good news for the U.S. jobs market. More than doubling expectations, U.S. businesses added 157,000 jobs in June, according to a report by a payrolls processor. On top of that, 14,000 fewer people applied for unemployment benefits last week, the lowest level in seven weeks, reports the Labor Department. In terms of job hiring, "Smaller businesses led the charge in June," reports CNN Money. "Small businesses, defined as those with fewer than 50 workers, added 88,000 jobs in June. Medium-size businesses, defined as those with between 50 and 499 workers, gained 59,000. Larger businesses, with 500 or more workers, added 10,000 jobs last month." The news network says the positive reports are setting the tone for the "highly anticipated" monthly jobs report, which comes out tomorrow morning. "After weak jobs growth in May, economists and traders aren't expecting much better results from June's numbers."

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