Oddbean

US hiring cools in June, unemployment up slightly: govt ========== The US economy added 206,000 jobs in June, slower than May's figure of 218,000 but beating analyst expectations. The jobless rate ticked up from 4.0 percent to 4.1 percent. Wage growth slowed from 0.4 percent in May to 0.3 percent in June. President Joe Biden faces challenges in convincing the public of his economic policies. The latest report comes after a slump in activity in the manufacturing and services sectors, alongside easing inflation. The Federal Reserve could start talks about cutting rates at their next policy meeting and lower the policy rate in September if the data continue to show moderation. The labor market has cooled gradually for the past two years and has reached a sustainable new normal, according to economists. However, significant slowing beyond the current pace of activity would likely raise the risk of overcooling. #UsEconomy #Jobs #Unemployment #WageGrowth #JoeBiden #FederalReserve https://www.legit.ng/business-economy/economy/1600739-us-hiring-cools-june-unemployment-slightly-govt/