US unemployment rate stable at 5.9%
Little sign of ‘substantial further progress’ FOMC wants to see before taper
The US Bureau of Labor Statistics reported on July 2 that the US had gained 850,000 non-farm jobs in June, which was not enough to bring unemployment down from 5.9%. The BLS reported that the US had 5.7 million fewer jobs than it did in February 2020, when unemployment was at 3.5%.
The BLS, part of the Labor Department, found that the services sector provided most of the employment gains. Its release cited the “leisure and hospitality, public and private education, professional and business
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