The U.S. economy added 209,000 jobs in June — fewer than forecast — and the unemployment rate edged down to 3.6 percent, according to the Bureau of Labor Statistics.
In addition, the totals for April and May were revised down to 217,000 and 306,000, respectively.
Although job growth appears to be moderating, it may not be enough to prevent the Federal Open Market Committee from increasing the target federal funds rate at its next meeting.
Ryan Brandham, head of global capital markets, North America, at Validus Risk Management, commented, “It doesn’t feel like this number alone is enough to derail a hike at the FOMC meeting in July.”
And in a rapid reaction comment, Oxford Economics noted, “The slowdown in job growth isn't enough to prevent a rate hike at the FOMC meeting later this month, however, particular