July 5, 2019

WASHINGTON — U.S. employers sharply stepped up their hiring in June, adding a robust 224,000 jobs, an indication of the economy’s durability after more than a decade of expansion.

The strength of the jobs report the government issued Friday could complicate a decision for the Federal Reserve late this month on whether to cut interest rates to help support the economy. Most investors have anticipated a rate cut in July and perhaps one or two additional Fed cuts later in the year. That scenario may be less likely now.

Stocks sold off Friday, with the Dow Jones Industrial Average down roughly 150 points in late-morning trading, reflecting a view that the Fed might engage in fewer rate hikes. The yield on the 10-year U.S. Treasury note climbed to 2.06% from just under 2%.

Read more:

https://www.politico.com/story/2019/07/05/us-jobs-june-economy-1399008