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US ECONOMY
By Staff Reporters
The Labor Department just reported that the U.S. added 206,000 jobs last month, slightly beating expectations. But the unemployment rate ticked up to 4.1%, a sign of slack in a labor market that has been remarkably strong even in the face of high interest rates.
There were other signs as well that the job market continues to cool. Average hourly earnings were up 3.9% in June from a year earlier, marking their smallest gain since 2021. The jobs counts for both April and May were revised lower. The labor force participation rate, the share of working-age people who were employed or seeking work, ticked up—an indication that more people are entering the labor market.
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Filed under: "Ask-an-Advisor", Breaking News, Career Development | Tagged: FOMC, inflation, interest rates, IRS, Labor Department, US economy, US jobs |
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