(Trends Wide) — The US job market finally cooled off in June 2023, adding just 209,000 jobs, the Bureau of Labor Statistics reported Friday.
The June jobs total was lower than May’s unexpectedly strong job count of 306,000, and below economists’ expectations for a net gain of 225,000.
It is the smallest monthly increase since the December 2020 decline.
The US added in June 2023, 209,000 new jobs to the economy.
The unemployment rate dipped to 3.6% from 3.7% the previous month, according to the report.
American employers have been creating jobs for 30 consecutive months.
Although the Federal Reserve has attempted to cool the economy with 10 consecutive rate hikes, the job market remains impervious to such efforts.
News in development.
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(Trends Wide) — The US job market finally cooled off in June 2023, adding just 209,000 jobs, the Bureau of Labor Statistics reported Friday.
The June jobs total was lower than May’s unexpectedly strong job count of 306,000, and below economists’ expectations for a net gain of 225,000.
It is the smallest monthly increase since the December 2020 decline.
The US added in June 2023, 209,000 new jobs to the economy.
The unemployment rate dipped to 3.6% from 3.7% the previous month, according to the report.
American employers have been creating jobs for 30 consecutive months.
Although the Federal Reserve has attempted to cool the economy with 10 consecutive rate hikes, the job market remains impervious to such efforts.
News in development.
