NEWYORK: US chamber of commerence despite another month of solid job growth and an economy closing in on full employment, the picture of America’s labor market looks decidedly mixed and is likely to keep the Federal Reserve in a wait and see mode on raising interest rates.
Although employers added 223,000 jobs in June, in line with forecasters’ expectations, workers’ average wages flattened last month after a promising increase in May, the Labor Department said Thursday. And while the jobless rate in June fell to a new post recession low of 5.3%, from 5.5% in May, it dropped for the wrong reason a large exodus of workers from the labor force.
