Washington, DC, July 7, 2006--Job growth increased modestly in June, according to the Labor Department. Nonfarm payrolls expanded by 121,000 during the month, lower than the 174,000 expected by economists.
The unemployment rate however held steady at 4.6%, a five-year low. The unemployment rate was in line with economists forecasts.
Average hourly earnings increased $0.08 or 0.5% to $16.70. Economists had been expecting a 0.3% gain.
Earnings are up 3.9% in the past year.
