June jobs report shows ‘more moderation’ in labor market

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Total nonfarm payroll employment increased by 206,000 in June, and the unemployment rate changed little at 4.1%, the U.S. Bureau of Labor Statistics reported Friday.

“The economy added 206,000 jobs in June but the report showed more moderation in the labor market than previous reports. Job gains in the prior two months were revised down by 111,000, unemployment ticked up to 4.1%, and average hourly earnings increased by a slower pace of 3.9% over the past 12 months,” said America’s Credit Unions Senior Economist Dawit Kebede. “This relative softness in the labor market is encouraging news for the Federal Reserve searching for data signals to loosen a tight monetary policy.” 

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