US Added 372,000 Jobs in June, Topping Estimates

The video discusses the creation of 372,000 jobs in June, with a 74,000 downward revision for the previous two months. Private payrolls increased by 381,000, and manufacturing payrolls rose by 29,000. The employment rate remained steady at 3.6%. Average hourly earnings stayed consistent, providing some comfort to the Fed as the month-over-month rate is not accelerating. The year-over-year earnings rate decreased to 5.1%. Labor force participation dropped slightly to 62.2%, contrary to economists' expectations, indicating fewer people are looking for work, which may explain the unchanged unemployment rate despite high payroll numbers.

What is the significance of the month-over-month change in payrolls according to the text?

What was the unemployment rate mentioned in the text?