Jobs
US Job Growth Cools But Wages Signal Labor Market Still Strong
- Payrolls growth revised down by 110,000 in prior two months
- Wages increased at a faster-than-expected pace in June
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US job gains moderated in June while wage growth remained firm, showing a strong enough labor market to keep the Federal Reserve on track to raise interest rates this month.
Nonfarm payrolls increased 209,000 — the smallest advance since the end of 2020 — after downward revisions in the prior two months, a Bureau of Labor Statistics report showed Friday. The unemployment rate fell to 3.6%.