Washington (WBAP/KLIF) US employers added 209,000 jobs to the economy in June, and the unemployment rate changed little at 3.6 percent. according to stats released by the US Labor Department Bureau of Labor Statistics this morning.
The stats area a sign that the economy’s resilience is confounding the Federal Reserve’s drive to slow growth and inflation. The latest evidence of economic strength makes it all but certain that the Fed will resume its interest rate hikes later this month after having ended a streak of 10 rate increases intended to slow inflation.
The June hiring figure is below the levels recorded in recent months. But it still points to a durable labor market that also features a historically high number of advertised openings. The unemployment rate fell to 3.6% from 3.7%, and is near a five-decade low.
(Copyright 2023 WBAP/KLIF 24/7 News.)
