US economy adds 206,000 jobs but unemployment ticks higher


Unlock the Editor’s Digest for free

The US added 206,000 jobs in June, higher than forecasts, but down from the previous month.

Economists polled by Reuters had expected non-farm payrolls to have increased by 190,000 last month.

Friday’s report from the Bureau of Labor Statistics also showed that the US unemployment rate ticked up to 4.1 per cent from 4 per cent.

The US labour market’s strength in the past two years has afforded the Federal Reserve the time to take a cautious approach to lowering borrowing costs. The central bank is closely monitoring employment conditions, and inflation, to help guide its decision on when to commence an interest rate cutting cycle.

Friday’s data comes just days after the minutes of the central bank’s June meeting showed that members of the rate-setting committee were becoming more attentive to the downside risks to the US labour market.

This is a developing story



Also Read More: World News | Entertainment News | Celeb News

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Knicks’ Josh Hart Roasts Tyrese Haliburton on Social Media

Getty Josh Hart reacts during Game 2 agains the Indiana Pacers on…

Russia-Ukraine war: List of key events, day 790 | Russia-Ukraine war News

As the war enters its 790th day, these are the main developments.…

Arizona man hit with fire extinguisher allegedly hurled from parking garage

An Arizona man’s departure from a downtown parking garage was cut short…

Rhode Island transit chief resigns after he’s accused in a hit-and-run at a McDonald’s drive-thru

PROVIDENCE, R.I. (AP) — Rhode Island Public Transit Authority CEO Scott Avedisian…