287,000 jobs added in June

The U.S. added 287,000 new jobs in June, according to the Labor Department report released Friday.

It's a massive rebound from May when the U.S. added a mere 11,000 jobs. Unemployment rose slightly in June to 4.9% (up from 4.7% in May). That's actually a good sign because it means more Americans are looking for work again.

The big boost in hiring in June alleviates fears that the U.S. economy is sputtering. It's especially welcome news after the Brexit shock that rattled markets. Stocks rallied Friday morning.

"The economy continues on a solid, but not spectacular path," says John Ryding of RDQ Economics.

Source CNN