The US added 209,000 new jobs in June as hiring slowed amid signs that the economy is recovering, a sign of strength in the labor market despite the Fed’s aggressive attempts to bring down inflation.
But the increase was also the 30th consecutive month of job gains, and the unemployment rate fell to a historically low rate of 3.6%.
US inflation remains more than twice the Fed’s target, and some economists have raised concerns that sharp interest rate increases by the central bank could lead to job losses and a recession.
The news is unlikely to deter the Federal Reserve’s aggressive attempts to slow the economy and raise interest rates again this month.
