WNYT NewsChannel 13 on Nostr: US employers added a solid 206,000 jobs in June in a sign of continued economic ...
US employers added a solid 206,000 jobs in June in a sign of continued economic strength
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US employers added 206,000 jobs in June, reflecting the resilience of America's consumer-driven economy. The unemployment rate ticked up from 4% to 4.1%, the highest rate since November 2021. The government revised down its estimate of job growth for April and May by a combined 111,000. Average hourly pay rose just 0.3% from May and 3.9% from June 2023, the smallest rise since June 2021. The job growth from April through June averaged 177,000, the lowest three-month average since January 2021. The state of the economy is weighing heavily on voters' minds as the presidential campaign intensifies. The U.S. gross domestic product grew at a lethargic annual pace of 1.4% from January through March, the slowest quarterly pace in nearly two years. Consumer spending rose at just a 1.5% pace last quarter after growing more than 3% in each of the previous two quarters. The number of advertised job openings has declined steadily since peaking at a record 12.2 million in March 2022. The Fed is expected to begin cutting its benchmark rate in September. The job market remains strong and any deceleration remains modest. The labor market is not as strong as it was last year at this time. The job market has lost momentum compared to three years ago.
https://wnyt.com/us-news/us-employers-added-a-solid-206000-jobs-in-june-in-a-sign-of-continued-economic-strength/
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US employers added 206,000 jobs in June, reflecting the resilience of America's consumer-driven economy. The unemployment rate ticked up from 4% to 4.1%, the highest rate since November 2021. The government revised down its estimate of job growth for April and May by a combined 111,000. Average hourly pay rose just 0.3% from May and 3.9% from June 2023, the smallest rise since June 2021. The job growth from April through June averaged 177,000, the lowest three-month average since January 2021. The state of the economy is weighing heavily on voters' minds as the presidential campaign intensifies. The U.S. gross domestic product grew at a lethargic annual pace of 1.4% from January through March, the slowest quarterly pace in nearly two years. Consumer spending rose at just a 1.5% pace last quarter after growing more than 3% in each of the previous two quarters. The number of advertised job openings has declined steadily since peaking at a record 12.2 million in March 2022. The Fed is expected to begin cutting its benchmark rate in September. The job market remains strong and any deceleration remains modest. The labor market is not as strong as it was last year at this time. The job market has lost momentum compared to three years ago.
https://wnyt.com/us-news/us-employers-added-a-solid-206000-jobs-in-june-in-a-sign-of-continued-economic-strength/