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National News

U.S. Job Market Sees Steady Growth in June Amid Ongoing Challenges

In June 2024, the U.S. added 206,000 nonfarm payroll jobs with notable gains in government, healthcare, social assistance, and construction, while the unemployment rate remained unchanged at 4.1%, indicating both progress and ongoing challenges in the labor market.

U.S. Job Growth Continues to Outpace Expectations 

U.S. job growth surged in May, adding 272,000 jobs—well above expectations—driven by significant gains in health care, government, and leisure and hospitality sectors, while average hourly earnings also increased, indicating a robust labor market despite a slight uptick in unemployment.

Inflation Continues to Improve, Beats Expectations 

Inflation continues to improve, with the May Consumer Price Index showing flat consumer prices and slower annual growth, leading to record highs for the Nasdaq and S&P 500, and the Federal Reserve maintaining interest rates with potential decreases expected later this year.