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US Jobs Slow, Europe Holds Strong | Business and Finance News
Description
The US job market is cooling fast—just 57,000 new jobs in June, far below expectations, after a massive 170,000 surge the prior month. Higher interest rates are clearly taking a toll, while the Eurozone bucks the trend with a record-low 6.2% unemployment, showing remarkable resilience. This stark contrast leaves the Fed on pause, weighing whether to cut rates later this year to avoid a downturn, despite a slight drop in US unemployment to 4.2%. Meanwhile, the ECB, buoyed by strong employment, may keep hiking rates to tame stubborn inflation—highlighting how diverging economies are forcing central banks down different paths.
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