US job growth continues to strengthen in June

372,000 new jobs

The US saw another strong month of job growth in June, defying expectations of a sharp slowdown and giving the Federal Reserve more flexibility to continue hiking interest rates.

The Bureau of Labor Statistics reported that non-farm payrolls grew by 372,000 last month, much higher than the expectations of 265,000 and only slightly below May's growth of 384,000. Bank of England: Eight major risks facing UK economy The gains push the unemployment rate for the country down to 3.6%, just above the historically low pre-pandemic level. Growth came largely from the information, mining and logging and transportation and warehousing sectors. Analysts were in agreement that the strong numbers would partially reassure those that were afraid of a fast-approaching stron...