Economic Beat: June's nonfarm payrolls report showed a gain of 372K jobs

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Economic Beat: July 11, 2022

The most important economic release of the week was June's nonfarm payrolls report, released Friday. This showed a headline gain of 372K jobs, notably stronger than the 275K consensus. The unemployment rate remained firm at 3.6 percent and Average Hourly Earnings showed a 0.3 percent increase in June. While the release seemed to undercut the impending recession narrative, it also was seen to bolster the case for a more-aggressive Fed. Listen to this week’s full Economic Beat update or read the transcript below.

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