The monthly employment report on Friday is projected to show that employers added 190,000 jobs in June, according to a Bloomberg survey of economists. That would be a downshift from the 272,000 jobs added in May.
The economy remains solid overall, with unemployment still low, the stock market hovering at new highs and wage growth outpacing inflation.
But many economists say the labor market is in a sensitive place. Layoffs are near record lows, but a key measure known as the hiring rate — which tracks the number of hires during a month as a percentage of overall employment — has slowed substantially. That means those who lose their jobs are having more trouble finding new opportunities.
Interest rates, which the Federal Reserve has driven significantly higher since 2022, have remained elevated longer than many businesses had hoped. That has made loans for many small businesses more…
