Minneapolis CNN —When the June jobs report lands on Friday, it’s all but certain to show that the US labor market has added jobs for 30 consecutive months.
And this year’s monthly average of 314,000 net job gains far exceeds what was seen before the pandemic, including during that 100-month stretch post-Great Recession.
Sarah House, senior economist at Wells Fargo, said she’s expecting a “gradual cooling” to wash over the labor market.
“The jobs market is not collapsing,” she said.
The timing of the Fourth of July holiday resulted in a load of labor market data landing within 24 hours of the government’s monthly jobs report.
Persons:
Sarah House, she’s, ”, wilder, Andy Challenger, ” Aaron Terrazas
Organizations:
Minneapolis CNN, Federal Reserve, of Labor Statistics, Labor, Challenger, Fed
Locations:
Minneapolis, Wells Fargo