In June, the US added 209,000 jobs, showing a slowdown in hiring but still indicating the economy's resilience. This development is likely to lead to the Federal Reserve resuming its interest rate hikes. Although the number of jobs added in June is the smallest in 2 1/2 years, the labor market remains strong, with a historically high number of advertised openings. The unemployment rate has fallen to 3.6%, near a five-decade low. Wage growth has also accelerated, with hourly pay up 4.4% from a year ago, outpacing year-over-year inflation.

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