U.S. Adds 209K Jobs in June as Unemployment Hits Near 50-Year Low

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Jobs growth actually cooled a little bit in June but does still point to a very strong labor market. So the economy added 209,000 jobs last month down from 306,000 in May and wages rose in a sign that these inflationary pressures persist. So average hourly earnings gained 4/10 of a percent in June from May. They were a 4.4% from last year and the unemployment rate did take a little bit lower to 3.6% percent from 3.7%. So while the jobs number did technically come up short of economists expectations, it was still strong enough that nearly all traders are betting that the Federal Reserve will raise rates again at its late July meeting.