Unemployment respite: US economy adds 195,000 new jobs

U.S. employers added 195,000 jobs in June and hiring was more robust in the two previous months than earlier estimated. The gains raise hopes for a stronger economy in the second half of 2013. The Labor Department says the economy added 70,000 more jobs in May and April than initially reported. The unemployment rate stayed at 7.6 percent because more people started looking for work. The government counts people as unemployed only if they are looking for work.

The economy has added an average of 202,000 jobs a month for the past six months,up from 180,000 in the previous six. That suggests businesses are growing more confident in the economy. If the gains continue,the Federal Reserve might start to scale back its bond purchases before the year ends.