Assembly line worker Lashunta Harris applies the Ford logo on a 2024 Ford F-150 truck being assembled at the Dearborn Truck Plant, April 11, 2024, in Dearborn, Mich. On Friday, June 5, 2024, the U.S. government issues its June jobs …WASHINGTON — America’s employers delivered another healthy month of hiring in June, adding 206,000 jobs and once again displaying the U.S. economy’s ability to withstand continually high interest rates.
When the Labor Department issues the latest jobs report Friday, it’s expected to show that employers added 190,000 jobs in June - a solid gain, though down from a surprisingly robust 272,000 increase in May. The unemployment rate likely remained at a low 4%, according to forecasters surveyed by the data firm FactSet.
Still, Flowers suggested, the much higher borrowing costs caused by the Fed’s rate hikes will eventually weaken the job market. Still, while employers might not be hiring so aggressively after having struggled to fill jobs the past two years, they aren’t cutting many, either. Most workers are enjoying an unusual level of job security.