WASHINGTON, June 5 (Reuters) – U.S. job growth likely slowed in June, but the pace was probably strong enough to keep the unemployment rate at 3.6% for a fifth straight month, offering the strongest evidence yet that the economy was not in recession.The Labor Department’s closely watched employment report on Friday is expected to paint a picture of an economy muddling through despite back-to-back quarters of contraction in gross domestic product, the broadest measure of U.S. economic activity. Though demand for labor has eased in sectors like housing and retail that are sensitive to the higher interest rates being engineered by the Federal Reserve in its battle against inflation, industries like airlines and restaurants cannot find enough workers.
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As recession fears grow, strong US hiring is likely slowing
The American job market has defied raging inflation, rising interest rates, growing recession fears.
As recession fears grow, strong US hiring is likely slowing
The American job market has defied raging inflation, rising interest rates, growing recession fears.
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