U.S. Created 287,000 Jobs in June

The U.S. created 287,000 jobs in June, massively topping analyst expectations.

The national unemployment rate rose slightly more than expected in June, to 4.9 percent.

Economists surveyed by Reuters had said they were, on average, expecting nonfarm payrolls to show growth of 175,000 for June, and the unemployment rate to rise to 4.8 percent.

The initial May report showed the U.S. unemployment rate came in at 4.7 percent, a recent low, but nonfarm payrolls only grew a dismal 38,000 jobs.

After those figures were released last month, stock futures tumbled and the probability of a June rate hike from the Federal Reserve plummeted to single digits.

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Source: nbcnews.com