Hiring cooled in June as employers put the brakes on hiring amid economic headwinds such as surging borrowing costs.
The U.S. added 209,000 jobs last month, the Labor Department reported Friday. That was in line with economists' expectations for about 205,000 new jobs in June, according to a poll of economists by FactSet. , although the Labor Department on Friday revised that number downward to 306,000.
"The U.S. labor market moderated in June, as new job creation edged down — a step toward the much sought-after soft landing in the economy," noted Dave Gilbertson, labor economist at payroll management software company UKG, in an email after the numbers were released."[T]he labor market is holding up very well, but it's not on fire.
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