- US: The Bureau of Labor Statistics said on Friday that nonfarm payrolls increased by 372,000 in June.
- With these increases, the unemployment rate stabilized at a historically low 3.6%, barely below the pre-pandemic threshold.
- Employers continue to compete hard over a shrinking pool of new talent.
Red-hot labor demand fueled another month of robust job growth in the US defying predictions of a harsher downturn and allaying fears of an oncoming recession.
The Bureau of Labor Statistics said on Friday that nonfarm payrolls increased by 372,000 in June, exceeding economists’ expectations of 265,000 and falling just short of the downwardly revised 384,000 jobs generated in May.
With these increases, the unemployment rate stabilized at a historically low 3.6%, barely below the pre-pandemic threshold.
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