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Unemployment and Layoffs

Surge in hiring calms fears about the economy — for now

Surge in hiring calms fears about the economy — for now

The strong rebound in hiring last month, after almost zero new jobs were added in May, allayed worries that the long recovery in the labor market and the economy was coming to an abrupt end.

"We can all breathe a big sigh of relief," said Harry Holzer, a Georgetown University professor and former chief economist at the Labor Department.

Friday's government report showing growth of 287,000 jobs last month -- following revised gains of just 11,000 in May and 144,000 in April -- will bolster confidence among employers and policymakers at the Federal Reserve that the expansion in the labor market and the broader economy remain on track.

The figures fueled a big...

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