US economy adds 206,000 jobs in June as unemployment rate inches higher

Mixed jobs report

The US economy added 206,000 jobs in June, as the unemployment rate edged slightly higher, the US Bureau of Labour Statistics said today (5 July).

Total nonfarm payrolls came in stronger than expected, as economists surveyed by FactSet had called for a gain of 189,500 jobs. The US unemployment rate rose to 4.1% last month, marking the first time it has exceeded 4% since November 2021, when it was also 4.1%. Economists had anticipated the unemployment rate would remain steady at 4% in June. The change in total nonfarm payroll employment for April was revised down by 57,000, from 165,000 to 108,000, and the change for May was revised down by 54,000, from 272,000 to 218,000.  Fed rate cut 'off the table' as US economy adds 272,0...