Federal Reserve Latest News: US Economy Adds 195K Jobs; Unemployment 7.6 Pct.

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Federal Reserve Latest News: US Economy Adds 195K Jobs; Unemployment 7.6 Pct.

Federal Reserve Latest News: US Economy Adds 195K Jobs; Unemployment 7.6 Pct.
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Federal Reserve Latest News: US Economy Adds 195K Jobs; Unemployment 7.6 Pct.

Wochit 0:56 mins

U.S. employers added a robust 195,000 jobs in June and many more in April and May than previously thought. The job growth raises hopes for a stronger economy in the second half of 2013. Job growth was stronger than expected in June and the employment count for the prior two months was revised higher. The numbers show the economy is on solid ground and is likely keeping the Federal Reserve on track to scale back its massive monetary stimulus later this year. Employers added 195,000 new jobs to their payrolls last month, the Labor Department said, while the unemployment rate held steady at 7.6 percent as more people entered the workforce. European Central Bank President Mario Draghi has underlined the bank's determination to stick with stimulus for the struggling eurozone, saying the bank will keep its benchmark interest rate the same or lower "for an extended period of time."

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