June 2023 Jobs Report Shows Hiring Ease | Compare reporting by CNN WSJ dcexaminer
, hiring eased slightly in June as employers added 209,000 jobs, compared to 306,000 jobs in May. The unemployment rate fell from 3.7% to 3.6%.: The Federal Reserve is projecting more rate increases in 2023, since economic activity and inflation have not slowed as much as they expected. Employers in hospitality, leisure, and local government are still staffing, however, and returning to pre-pandemic levels.
: “The job market has been surprisingly strong in 2023,” said Bill Adams, chief economist for Comerica Bank. “People who have lost jobs in tech or real estate have been able to find new jobs very quickly in industries that are still short-handed.” : Many economists had been forecasting that the Federal Reserve's rate increases would cause a recession by June, and that hiring would ease.: Sources on the left reported that the labor market has been unaffected by rate hikes.
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