US employers added 850,000 jobs in June, much higher than the average of the previous three months, indicating that it may be easier for companies to find enough workers to fill open positions.
A report by the Department of Labor is the latest evidence that the reopening of the economy is bouncing back strongly from the pandemic recession. The visitors in restaurants across the country have almost recovered to the level before the pandemic. More people have begun to shop, travel, and participate in sports and entertainment activities. The number of people flying every day has recovered from pre-COVID-19 levels by approximately 80%. American's confidence in the economic outlook has almost completely recovered.
The report also shows that American workers enjoy an advantage in the job market because the company is eager to increase labor and pay higher wages in a booming economy. In June, the average hourly wage increased by 3.6% compared to the previous year, faster than the annual growth rate before the pandemic. In addition, more new employees are getting full-time jobs because the number of part-time employees who like to work full-time has declined, which is a healthy sign.
Joe Brusuelas, the chief economist at RSM, a tax advisory firm, said, “There's increasing confidence that they’re going to get better jobs at better wages as the U.S. economy expands. this underscores the growing bargaining power of labor.”
In a speech at the White House, President Joe Biden promoted the job gains and recommended that his economic policies, including the $1.9 trillion financial aid plan announced in March, are proposed to make it easier for workers to find better jobs.