Stocks Poised for More Gains as Unemployment Dips to 2008 Level

TheStreet 3:04 mins

The U.S. economy added 288,000 jobs in June as employers' demand for workers increased. The unemployment rate dipped to 6.1%, which was the lowest level since September 2008. Pension Partners research director Charlie Bilello tells TheStreet's Joe Deaux that the bond market suggested a big number was likely, and that markets will continue to climb on the strong report. The May jobs report was upwardly revised to 224,000 and the April jobs report revised higher to 304,000. The labor force participation rate remained unchanged at 62.8% and the average work week stayed at 34.5 hours. The Labor Department reported that wages rose by 2% year-over-year.

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