US adds 372,000 jobs in June as market stays strong
The U.S. economy added 372,000 jobs and the unemployment rate held even at 3.6 percent in June as a strong labor market held firm amid rising inflation and recession fears.
Job growth in June far exceeded the projections of economists, who expected the U.S. to add roughly 278,000 jobs last month, according to consensus estimates.
The unemployment remained just 0.1 percentage points from its pre-pandemic level of 3.5 percent, which was a 50-year low.
The strong June jobs gain is a promising sign of resilience for the U.S. economy, which faces growing risks from inflation and the Federal Reserve’s efforts to stamp it out.
Even so, the strength of the job market could pose other challenges for policymakers as they attempt to curb a glut of consumer spending driving prices higher.
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Source: TEST FEED1
