The labor market is moderating gracefully, but conditions remain too hot for the Fed’s liking. Job gains were relatively solid yet again in June, with total nonfarm payroll employment reaching 209,000 jobs, compared to 339,000 in May, according to data released Friday by the Bureau of Labor Statistics. 

This increase is slightly under the average monthly gain of 341,000 jobs over the past 12 months.

The unemployment rate changed little at 3.6%, compared to 3.7% in May, with the total number of unemployed persons falling to 6 million. The unemployment details ⇒

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