Job creation in the United States is slowing

The US job creation slowed sharply in Junealthough the rate fell by one-tenth to 3.6%, according to data released this Friday by the Bureau of Labor Statistics (BLS, in English).

Thus, in the sixth month of the year, 209 thousand net jobs were created, 130 thousand less than in Mayat a time when the effects of the increase in interest rates implemented by the Federal Reserve (Fed) to suppress inflation on the labor market are being closely analyzed.

Net number of open jobs is below the average for the last six monthswhich is 278 thousand open jobs.

In 2022, the average was 399 thousand open jobs per monthTherefore, the effects of the rate increase would already affect job creation, even though the unemployment rate remains low.

In June, unemployment fell by one-tenth after rising by three in May. The BLS recalled that as of May 2022, this indicator has always oscillated between 3.4% and 3.7%.

In total, 6 million Americans were out of work at the end of Junea month in which employment continued to grow in government, health, social care and construction.

In July, the average hourly wage for all employees on private nonfarm payrolls increased by 12 centsor 0.4%, to $33.58.

During Over the past 12 months, average hourly wages have increased by 4.4%at a time when inflation, according to the latest data for May, is 4 percent.

Since peaking at 9.1% in June 2022. inflation is falling, as a result of a series of interest rate increases implemented by the Fed to lower prices.

At the last meeting, in mid-June, The Fed has decided to temporarily pause increases, although he cautioned that further increases are likely to be needed. Rates range between 5% and 5.25%, which is the highest number since mid-2006.