Economy Adds 287,000 Jobs in June, May’s Report Revised Lower

The economy created 287,000 jobs in June, beating estimates of 180,000, according to a report from the Labor Department on Friday. The unemployment rate rose to 4.9 percent, compared to 4.7 percent in May. Ian Winer, head of equity trading at Wedbush Securities, based in Los Angeles, said the June report shows the May figures were a fluke, but he stressed the importance of looking at the three-month average of job creation, which stands at 147,000. May's employment figures were revised lower, showing the economy created 11,000 positions, instead of a previously reported 38,000. TheStreet's Scott Gamm reports from Wall Street.