Employers created 147,000 jobs in June, compared to 144,000 in May, reported The Washington Post.
“The report beat forecasters’ expectations of 110,000 jobs added. Businesses have been adding jobs at a slower pace this year compared to last year. But so far, heightened trade barriers, elevated interest rates and federal government cuts that have spooked Wall Street and Main Street alike have yet to deliver a hit to the labor market. Aside from a few key sectors, hiring nevertheless has fallen to a standstill in many industries,” wrote the outlet.
The unemployment rate ticked down to 4.1%, according to a jobs report released last week by the Labor Department.
Meanwhile, The New York Times recently reported that teenagers are struggling to find summer job opportunities. “Teenagers across the country are entering one of the toughest summer job markets in recent years, as traditional jobs at restaurants, amusement parks, pools and stores either pause new hiring or choose adults for those roles,” wrote the Times.
In May, the unemployment rate for teenagers rose to 13.4%, from 13% in April and 12.4% a year earlier, according to the Bureau of Labor Statistics.
A tighter labor market suggests that teen unemployment could reach its highest level in over a decade, said Andy Challenger, senior vice president of the outplacement firm Challenger, Gray & Christmas.
Per the Times, this year, the firm estimates there will be about one million new summer jobs for 16- to 19-year-olds. It could be the lowest number since 2010, Challenger said, adding that companies that traditionally hire summer workers may hold off this year.
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