Daily Business Briefing: The U.S. economy added 372,000 jobs in June, a strong showing.

Plus: Wages climbed 5.1 percent, a still-rapid pace as Fed awaits slowdown.

July 8, 2022, 2:00 p.m. Eastern time Good afternoon. Here is what we are covering. Wages climbed briskly in June and employers continued hiring at a robust pace, data released on Friday showed, offering the latest evidence that the labor market remains strong. The jobs growth was more than economists had expected, which could complicate matters for the Federal Reserve as it tries to cool down the economy in an effort to keep inflation in check. Markets wavered as investors, worried about the Fed's fight against inflation tipping the economy into recession, reacted cautiously. Here's what is happening today Ella Koeze/The New York Times   The U.S. economy added 372,000 jobs in June, a strong showing. The Labor Department report comes as consumers and businesses express increasing concern about a downturn. Read this story Wages climbed 5.1 percent, a still-rapid pace as Fed awaits slowdown. The jobs report suggests the Biden economy is not in a recession. Markets react warily to the better-than-expected jobs report. Even with job growth, there are signs that some employers are shedding workers. Private-sector employment has recovered to prepandemic levels. These 8 measures reflect a slowing U.S. economy. See the full briefing What do you think of this email? We would love to hear from you. Was this email forwarded to you? Sign up here to get this in your inbox. Get Business alerts as they happen with The New York Times app. Need help? Review our newsletter help page or contact us for assistance. You received this email because you signed up for Daily Business Briefing from The New York Times. To stop receiving these emails, unsubscribe or manage your email preferences. Subscribe to The TimesGet The New York Times app Connect with us on: Change Your EmailPrivacy PolicyContact UsCalifornia Notices The New York Times Company. 620 Eighth Avenue New York, NY 10018