The U.S. saw continued job growth in June, but not at the same blistering pace that has been a concern for the Federal Reserve. And the unemployment rate dropped from 3.7% to 3.6%.
showed the U.S. added 209,000 jobs. That is lower than the 240,000 economists had expected, but still a sign of a strong economy.So called "prime-age" workers, between 25–54 years old, reached the highest employment rate in 22 years, with nearly 81% working.
"The only worrisome sign is the uptick in unemployment among Black workers and young workers," said Jacobs. Sectors that added jobs included: health care, social services, private education and state and local governments,Automakers saw job growth as pent-up demand for vehicles continues out of the pandemic shortages."There's good evidence that when the minimum wage goes up, that more working parents decide that they can afford to work, and so with wages at the bottom coming up that may be drawing more people into the workforce," said Jacobs.
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