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By: Mansoor Ali ( Admin)
The US economy added 206,000 jobs in June, slightly down from May's revised figure of 215,000
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Unemployment rate rose marginally to 4.1%, the first increase since November 2021.
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Despite slowing job growth and wage increases, the Federal Reserve sees these trends positively for managing inflation.
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Expectations were for 190,000 new jobs, with job gains in June broadly distributed but centered in government and healthcare sectors.
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Government jobs saw the largest increase with 70,000 new positions, especially in local government
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Healthcare added 48,600 jobs, contributing significantly to June's employment gains.
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Wage growth moderated, with average hourly earnings up 0.3% for the month, slowing to 3.9% annually
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Labor force participation rate edged up to 62.6% from 62.5%, following a decline in May.
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In the first half of 2024, the US has added 1.3 million jobs, averaging 222,000 per month.
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compared to previous pandemic recovery years, the US continues a robust job expansion streak, marking 42 consecutive months of gains.
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