The Fed is trying to combat rising inflation, even as the U.S. economy continues to grow despite ballooning costs.
WASHINGTON — America’s employers shrugged off high inflation and weakening growth to add 372,000 jobs in June, a surprisingly strong gain that will likely spur the Federal Reserve to keep sharply raising interest rates to cool the economy and slow price increases.
The unemployment rate in June remained at 3.6% for a fourth straight month, the Labor Department said Friday, matching a near-50-year low that was reached before the pandemic struck in early 2020.
The past year’s streak of robust hiring has been good for
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