US JOB GROWTH SLOWING, BUT WAGE GAINS REMAIN STRONG
- NEWS Desk Global
- Aug 4, 2023
- 1 min read
The U.S. economy added fewer jobs than expected in July, but solid wage gains and a decline in the unemployment rate back to 3.5% pointed to continued tightness in labor market conditions. The Labor Department's employment report on Friday also showed job gains in May and June were revised lower, potentially suggesting demand for labor was slowing in the wake of the Federal Reserve's hefty interest rate hikes.
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