The U.S. added 209,000 jobs in June, showing that hiring is slowing but still solid

The U.S. saw a gain of 209,000 jobs in June, indicating a slowdown in hiring but still maintaining a solid job market.

By the numbers: In June, the United States added 209,000 jobs, which is a decrease from previous months, pointing to a potential cooling in the labor market.
* Job gains for the previous two months were adjusted downwards by 110,000 jobs, with May seeing 306,000 jobs created and April adding 217,000.
* The unemployment rate slightly dropped from 3.7% in May to 3.6% in June.

Detailed Breakdown: Jobs were primarily added in healthcare, business services, and construction, while the retail sector saw job reductions and factory employment was largely unchanged.
* Annual wage gains rose to 4.4% in June, indicating that wages are increasing faster than prices and giving workers more buying power.

What’s next: The increased wage gains may cause concern for the Federal Reserve, which has expressed that inflation is currently too high for comfort.
* As a result, it is expected that the Federal Reserve will raise interest rates again in its upcoming meeting, following a pause at the last meeting.

View original article on NPR

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