Washington, United States
News Desk | Economy
The latest U.S. jobs report released Friday showed steady hiring and signs of gradual cooling in the labor market, according to federal data. Employers continued to add jobs at a moderate pace while the unemployment rate held broadly stable, reflecting a slowdown from earlier post-pandemic surges as higher interest rates weigh on business expansion.
The report, published by the Bureau of Labor Statistics, indicated that job gains were concentrated in health care, government, and leisure and hospitality, while hiring softened in interest-rate-sensitive sectors such as construction and manufacturing. Wage growth eased slightly, suggesting reduced pressure on inflation.
Labor officials said participation levels remained near recent highs, signaling that workers continue to re-enter or stay in the workforce despite economic uncertainty. Average hours worked were little changed, pointing to stable labor demand rather than rapid acceleration.
Economists noted that the data align with broader signs of a cooling economy as the Federal Reserve maintains a restrictive monetary policy stance aimed at curbing inflation. Central bank officials have said labor market rebalancing is a key factor in determining future interest rate decisions.
Financial markets reacted cautiously, with investors weighing the implications for inflation and potential policy moves later in the year. Analysts said the report supports expectations of slower, but still resilient, economic growth.
The government is scheduled to release additional labor market indicators in the coming weeks, which policymakers will assess alongside inflation and consumer spending data. The story is developing.
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