The US labour market showed signs of cooling, with the unemployment rate rising in June and the pace of jobs growth in recent months shown to have been lower than previously reported.
The economy added 206,000 jobs last month, the Bureau of Labor Statistics said on Friday. That exceeded the 190,000 roles economists polled by Reuters had forecast, but revisions to April and May data meant employment during those two months was 111,000 lower than initially reported.
Friday’s non-farm payrolls report also showed that the US unemployment rate increased to 4.1 per cent from 4 per cent, its highest level since November 2021. Economists had expected no change.
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