Economy posts healthy job growth

The U.S. economy added 223,000 jobs last month, as employers continued to hire at a steady pace.

That was enough to drop the national unemployment rate to 5.3 percent, down from 5.5 percent in May and the lowest it’s been since April 2008, the U.S, Labor Department reported Thursday.

Although good, those numbers might not be as encouraging as they first appear: some of the drop can be attributed to long-term job seekers who are no longer looking for work, according to multiple reports.

The government does not count someone as unemployed unless they’re actively looking for work.

Also, wages have stalled, rising only two percent during the past year.

Professional and business services added 64,000 jobs in June, roughly in line with the month-over-month gains recorded in that category during the last 12 months.

Health care added 40,000 jobs last month, retail increased by 33,000 and the financial sector added 20,000 jobs.

Despite some negative aspects, the report shows the national recovery is continuing, though perhaps not as quickly as some would like, said Jordan Levine, director of economic research at Beacon Economics in Los Angeles.

“We’re keeping up with the [job gains] that were forecast early in the year.” Levine said. “The second half should be better than the first half.”