Strong jobs report pushes up stocks

NEW YORK — U.S. stocks climbed yesterday after the government said hiring grew at a faster pace in June. Technology and consumer-focused companies led the way as investors were glad to see a positive sign for the economy.

The Labor Department said American employers added 222,000 jobs last month. That was more than analysts had expected, and it came just a day after a survey that showed weaker job creation by private companies. Stocks regained much of the ground they lost Thursday. Technology companies jumped and retailers like Amazon and McDonald’s traded higher. Bond yields climbed and the dollar got stronger. Gold fell.

“The data itself shows a pretty strong labor market,” said Sean Lynch, co-head of global equity strategy for the Wells Fargo Investment Institute. He said it “probably lays to rest some of the worries (that) we were taking a step back from an economic standpoint.”

The Standard & Poor’s 500 index picked up 15.43 points, to close at 2,425.18. The Dow Jones industrial average, which fell 158 points Thurs d ay, gained 94.30 points, to 21,414.34. The Nasdaq composite, meanwhile, rose 63.61 points, to 6,153.08.

The government said more people looked for work in June, which pushed the unemployment rate slightly higher. The government also raised its estimates of job gains in April and May. And though average wage growth remained modest, companies that would benefit from better economic growth, like banks and industrial companies, made strong gains.