Cooler hiring in June could help the Fed achieve an elusive ‘soft landing’ for US economy

The pace of hiring by businesses and government agencies in June — 209,000 added jobs — was the smallest monthly gain in 2 1/2 years. Yet it was still a healthy increase, enough to reduce the unemployment rate from 3.7% to 3.6%, barely above a half-century low. And it amounted to further evidence of an economy that has defied persistent forecasts of a recession.

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