« on: July 05, 2024, 01:20:11 pm »
https://thehill.com/business/4756410-slowing-economy-june-unemployment/The uptick in the June unemployment rate along with significant downward revisions in the job additions for April and May are the latest signs that the economy may be slowing down under high Federal Reserve interest rates.
The Friday numbers from the Labor Department showed the unemployment rate increasing to 4.1 percent in June from 4 percent in April, the third month in a row of 0.1-percentage point increases.
Jobs added to the economy in May were revised down to 218,000 from 272,000 and in April to 108,000 from 165,000.
While the economy added a healthy 206,000 jobs in the first estimate for June and while a 4.1-percent unemployment rate is low in absolute terms, the softer employment numbers for June highlight recent cautionary positions from the Fed’s interest rate-setting committee about future risks to employment levels.
EXCERPT
Yeah, who didn't see that coming?
« Last Edit: July 05, 2024, 06:21:20 pm by MOD3 »
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