Payrolls increased 372,000 in June, more than expected, as jobs market defies recession fears
“Average hourly earnings increased 0.3% for the month and were up 5.1% from a year ago, the latter number slightly higher than the 5% Dow Jones estimate and indicative that wage pressures remain strong as inflation accelerates.
By sector, education and health services led job creation, with 96,000 hires, while professional and business services added 74,000 positions. Other contributors included leisure and hospitality (67,000), health care (57,000), and transportation and warehousing (36,000).”