The Federal Reserve is raising rates, the US economy is weakening and there is talk of a recession. But the biggest hurdle in the job market is still none of those things—it’s the availability of workers.
The Labor Department said on Friday that the economy added a seasonally adjusted 372,000 jobs In June, 250,000 was well above what economists expected. Meanwhile, the unemployment rate remained unchanged at 3.6%, bringing it near a 50-year low.