Hiring Remains Hot In A Cooling US Economy

Hiring remained hot in June in a cooling US economy, helping keep the unemployment rate steady at multi-year lows.

The June labor market report released Friday morning by the US Bureau of Labor Statistics (BLS) confirmed that the economy continued to add jobs at robust rates, led by the service sector.

Payroll employment in the nonfarm sector increased by 372,000 in June, up from a revised 368,000 jobs in May and in line with the prior three-month trend of 383,000 jobs. Most of the job gains came in the service sector, like...