Wall Street

June Jobs Report Show 372,000 New Hires, Defying Recession Fears: Rate Hike Bets Accelerate

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The Street

By Martin Baccardax The U.S. economy added much more-than-expected new jobs in June, the Labor Department said Friday, cementing the case for Fed rate hikes and challenging threats of a near-term recession. The U.S. economy added more than 370,000 new jobs last month, the Labor Department said Friday, a tally that smashed Wall Street forecasts and likely cements the case for sharper Federal Reserve rate hikes over the coming months. The Bureau for Labor Statistics said 372,000 new jobs were created in June, with headline unemployment rate holding at a post-pandemic low of 3.6% for the fourth c…

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