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US stocks dip as jobs report shows hiring is cooling while wage growth remains hot

July 7, 2023

US stocks dipped on Friday after the latest jobs report showed hiring cooled in June but wage growth remained hot, providing a mixed bag of data for the US central bank to sift through as it heads into its next policy meeting at the end of the month.

According to the newest Bureau of Labor Statistics report, 209,000 new positions were added last month, and unemployment fell to 3.6%. That figure is below expectations of around 225,000 new jobs, according to economists polled by Reuters.

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