U.S. workers added 222,000 nonfarm jobs to the payroll in June, snapping a relatively soft three-month stretch and beating estimates of 179,000. New jobs soared over the 2016 average of 186,000 per month.

The unemployment rate ticked up to 4.4% versus an expected 4.3% after notching its lowest rate in 16 years last month. The shrinking unemployment rate suggests a tightening labor market that supports the Fed's decision to raise interest rates in June.

U.S. markets were higher in premarket trading shortly after the announcement.

What's Hot On TheStreet

The biggest deal-maker around strikes again: Berkshire Hathaway Energy, a division of Warren Buffett's Berkshire Hathaway Inc., (BRK.A) (BRK.B) , confirmed Friday that it will purchase Oncor Electric Delivery Co. LLC in a deal that values the bankrupt unit's equity at $11.25 billion. "Oncor is an excellent fit for Berkshire Hathaway, and we are pleased to make another long-term investment in Texas - when we invest in Texas, we invest big!", Buffett said in a statement. "Oncor is a great company with similar values and outstanding assets."

Clearly, Buffett is still bullish on America's future. TheStreet takes a look at the billionaire's biggest bets on America.

Who cares, Elon: Tesla (TSLA) agreed to build the world's largest lithium-ion battery park in South Australia on Friday, signing off on a deal to finish the installation within 100 days or give it away for free. Failure to deliver the project on time would cost his company about $50 million, said CEO Elon Musk, though neither the state government nor Tesla released details of the contract.

Meanwhile, Tesla's stock is in a bear market. The company's highly anticipated first Model 3 electric cars will begin production on Friday.

Qualcomm battle with Apple gets even nastier: Qualcomm (QCOM) added a couple of unexpected wrinkles into its legal salvo with Apple (AAPL) , TheStreet's tech columnit Eric Jhonsa says. One of these wrinkles aims to neutralize some of the legal arguments Apple, as well as certain regulators, have been making against Qualcomm. The other, says Jhonsa, aims to both lower the odds of a political intervention in Apple's favor, as well as boost Qualcomm's near-term chip sales at Intel Corp.'s (INTC) expense.

TheStreet's founder and Actions Alerts PLUS charitable trust portfolio manager Jim Cramer makes some great points on Apple here.

Apple is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AAPL? Learn more now.

Visit here for the latest business headlines.

More from Politics

Week Ahead: Major Earnings on Tap as Wall Street Readies for Geopolitical Moves

Week Ahead: Major Earnings on Tap as Wall Street Readies for Geopolitical Moves

Former First Lady Barbara Bush Dies at 92 Years Old

Former First Lady Barbara Bush Dies at 92 Years Old

3 Hot Reads From TheStreet's Top Premium Columnists

3 Hot Reads From TheStreet's Top Premium Columnists

U.S. Dollar Treads Water as Geopolitical Concerns Weigh on Investor Sentiment

U.S. Dollar Treads Water as Geopolitical Concerns Weigh on Investor Sentiment

Cramer: I Don't Know How to Factor the Michael Cohen Investigation into Stocks

Cramer: I Don't Know How to Factor the Michael Cohen Investigation into Stocks