WASHINGTON – The rate of unemployment in the United States rose slightly in June, reaching 4.1%, while job creation job slowed from the previous month, although it was above market expectations, according to official data released on Friday.
In total, 206,000 jobs were created in June, compared with 218,000 the previous month (with figures revised downwards), the US Department of Labor report said.
The unemployment rate was expected to remain stable at 4%, with job creation expected to be lower at 185,000, according to market consensus compiled by specialist site Briefing.com, which noted that the labour market is still resilient.
The Department’s report notes a slowdown in activity in the manufacturing and services sectors, accompanied by a reduction in inflation.
Although there is still a long way to go, these indicators could give the US Federal Reserve (Fed, central bank) more confidence in deciding to cut benchmark interest rates, after keeping them at a high level in recent months.
Source: With information from AFP
