Job Growth Jumps in June, Complicating Fed Rate Cut Decision
July 5, 2019
After a weak May, June’s job number rebounded strongly. The U.S. economy added 224,000 jobs in June. This is the best month for job creation since January, and up significantly from May’s anemic 75,000. Economists had anticipated just 165,000 new jobs.
While this eases worries that employment growth—and growth for the overall economy—was slowing, it makes predicting the Fed’s actions more difficult. The central bank is widely expected to cut interest rates later this month, but the strong jobs report may change their thinking.