57,000 jobs added instead of 110,000 expected and wage growth fell behind inflation for
57,000 jobs added instead of 110,000 expected and wage growth fell behind inflation for the third month in a row. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
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| 💰 Breaking Finance News
The June jobs report just came in, and the number that matters most for your wallet is not the headline. The economy added 57,000 jobs last month, roughly half of what economists expected, while April and May were revised down by a combined 74,000 jobs. The unemployment rate dipped to 4.2%, but only because people left the labor force rather than finding work. Here is what this means for your money: the weak report almost certainly takes a Fed rate hike off the table for September, which is good news for anyone carrying a mortgage, car loan, or credit card balance. Markets reacted immediately, with Treasury yields falling and stock futures rising.
The less encouraging part: for the third consecutive month, wage growth is running below inflation. The average worker earned $37.64 an hour in June, but prices are still rising at roughly 3.9%, meaning your paycheck is quietly buying less than it did a year ago. Job growth is also increasingly concentrated in healthcare and social services, which pay below-average wages. The practical takeaway: the job market is not collapsing, but it is cooling. If you have been thinking about asking for a raise or making a career move, the window to do it from a position of strength may be narrowing.
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Yazan: Unknown
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