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Despite a heat wave stretching across the United States causing scorching temperatures (including Plam Springs hitting 124 degrees!), June’s employment numbers were much cooler. The U.S. economy added 206,000 net new jobs and the unemployment rate increased to 4.1% – the highest since November 2021.
April and May’s jobs numbers were also revised down significantly, a total 111,000 lower than what was originally reported. These revisions drag down the three-month average of job growth to just 177,000, the lowest in the post-COVID recovery.
Slower job growth and an increasing unemployment rate may seem nerve-wracking, but this is