U.S. Labor Market Shows Muscles

Employers added 372,000 jobs in June as the labor market shows off its strength in a slowing economy, where high inflation and rising interest rates continue to raise their ugly heads.

The unemployment rate held at 3.6% for the fourth straight month, just above a 50-year low, the Labor Department said Friday.

Economists surveyed by Bloomberg had estimated that about 270,000 jobs were added last month.

The report highlights a remarkably resilient job market, despite the economy’s trouble spots and growing recession risk.

The wage growth is still anemic and may take a turn for the worse as more Americans sidelined by COVID re-enter the workforce.

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Edited by Jesus Chan

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