07-07-2023, 12:56 PM
The U.S. added 209,000 jobs in June and the unemployment rate dipped to 3.6 percent, according to data released Friday by the Labor Department.
Economists expected the U.S. to add roughly 240,000 jobs last month and for the jobless rate to fall to 3.6 percent, according to consensus estimates, down from 3.7 percent in May.
Despite persistent recession warnings and rapid Federal Reserve rate hikes, the U.S. economy has remained sturdy throughout 2023. Job gains and economic growth have slowed from last year, but the economy has continued to expand all while inflation falls from 40-year highs.
Economists expected the U.S. to add roughly 240,000 jobs last month and for the jobless rate to fall to 3.6 percent, according to consensus estimates, down from 3.7 percent in May.
Despite persistent recession warnings and rapid Federal Reserve rate hikes, the U.S. economy has remained sturdy throughout 2023. Job gains and economic growth have slowed from last year, but the economy has continued to expand all while inflation falls from 40-year highs.
