US economy added 206,000 jobs in June, indicating a steady slowdown
Job seekers attend a job fair on June 26 in Sunrise
(CNN) — US job growth cooled as expected last month, but the labor market remained strong, according to Bureau of Labor Statistics data released Friday.
The US economy added 206,000 jobs in June, easing from a downwardly revised May tally of 215,000.
The unemployment rate moved higher, to 4.1% from 4%, marking the first time since November 2021 that the jobless rate was above 4%.
Economists were expecting employers to have added 190,000 jobs and for the unemployment rate to remain at 4%, according to FactSet consensus estimates.
June’s job gains were more broadly based than they have been in the past few months, but the largest chunk of job gains occurred in the public sector, which added a net 70,000 jobs, specifically local government excluding education (up 34,100).
The health care industry added another 48,600 positions.
Wage growth cooled as anticipated, with average hourly earnings rising 0.1% for the month and slowing to 3.9% on an annual basis.
This story is developing and will be updated.
The-CNN-Wire
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