Stock futures moved higher on Friday morning after the latest reading on the U.S. labor market showed 287,000 jobs were added to the U.S. economy in June. S&P 500 futures were up 0.74%, Dow Jones Industrial Average futures added 0.6%, and Nasdaq futures climbed 0.54%. The U.S. nonfarm payrolls report showed that 287,000 jobs were added in June, well above economists' expectations of 175,000. The 35,000 workers returning from a May strike at Verizon boosted the headline figure. The U.S. unemployment rate rose to 4.9% from 4.7%, while the labor force participation rate increased to 62.7%. Average hourly wages rose 0.1% to $25.61. The dismal jobs reading from May was reduced even further to just 11,000 from 38,000. April's reading was increased to 144,000 from 123,000.
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