The US economy added the fewest number of jobs in two and a half years

The employment report issued by the Ministry of Labor showed that the US economy added 209 thousand jobs in June, which is the lowest rise since December 2020, and analysts expected that the US economy would add 225 thousand jobs in June. The unemployment rate fell to 3.6% in June from a seven-month high of 3.7% in May. The unemployment rate has remained in the 3.4%-3.7% range since March 2022. Job growth averaged 278 thousand per month in the first half of the year. It rose Average hourly earnings increased by 0.4% in June, and on an annual basis wages increased by 4.4% in June. Average weekly working hours increased to 34.4 hours in June compared to 34.3 hours in May.