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June Jobs Report Shows US Labor Market Making Slower but Steady Gains
The New York Times • • general
Key Points:
- The U.S. economy added 57,000 jobs in June, with the unemployment rate dropping slightly to 4.2 percent, maintaining a historically low level since October 2021.
- Despite geopolitical tensions such as the war with Iran, the American economy continues to show resilience and steady growth, with job additions aligning with the expected trend level.
- Average hourly earnings increased by 3.5 percent annually in June, but wage growth is lagging behind inflation, which remains around 4 percent, contributing to subdued consumer sentiment.
- Economists note that the labor market has been relatively stable but stagnant for the past year and a half, indicating a period of steady but unspectacular job growth.
- The economic outlook for mid-2026 appears cautiously optimistic as tariff-related volatility decreases and geopolitical conflicts potentially ease.
