On The Radar

On The Radar

July 12, 2022

Is the slowing pace of economic growth impacting the labor market?

Not yet. In June, employers added 372,000 new jobs. That is a strong pace; in the past expansion, when jobs increased, they averaged 194,000.

Moreover, the unemployment rate held steady at 3.6% for the fourth straight month and at a near-fifty-year low. Inflation, high-interest rates and a slower economy have yet to affect the labor market.