June jobs report: US labor market adds 206,000 jobs, unemployment rate rises to 4.1%

The US labor market added more jobs than expected in June while the unemployment rate unexpectedly rose, reaching its highest level since November 2021, another sign that the job market continues to cool.released Friday showed the US economy added 206,000 nonfarm payroll jobs in June, more than the 190,000 expected by economists.

"Today's employment report ought to firm up expectations of a September rate cut," Renaissance Macro's head of economics Neil Dutta wrote in a note to clients. "Economic conditions are cooling and that makes the trade-offs different for the Fed ... Powell should use July to set up a September cut.

Pedestrians and a construction worker walk past a lighted American flag in the rain in Times Square on Aug. 22, 2013, in New York City. Former President Barack Obama has reportedly told allies that Joe Biden’s disastrous debate performance has made his bid to win back the White House even tougher than it had been previously.

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