The June jobs report was strong, but not so strong that it stoked fears that the Federal Reserve would scale back on its supportive monetary policies sooner than expected. This sentiment was reflected in the stock market, where the S&P 500 closed at a record high after the news.
By the numbers: U.S. employers added 850,000 jobs in June, which was better than expected.
The bottom line: We will continue to see anecdotes and intermittent reports of jumps in jobs and pay. But employment continues to be 6.7 million jobs short of pre-pandemic levels.
- And as long as those folks continue to reenter the labor force, the Fed will continue to support markets with loose monetary policy.
https://www.axios.com/june-jobs-report-markets-a7cc7c5a-4eaf-43c7-897e-b6f865a90acf.html