
What to expect from the June jobs report
CNN
Economists don’t believe job gains will fall off a cliff when the Bureau of Labor Statistics releases employment data for June at 8:30 am ET on Friday.
Economists don’t believe job gains will fall off a cliff when the Bureau of Labor Statistics releases employment data for June at 8:30 am ET on Friday. While the monthly job total is expected to show a gradual cooling, it’s still forecast to remain strong and steady: Economists anticipate the US added 190,000 jobs last month, a pullback from the stronger-than-expected 272,000 gain in May, and for unemployment to hold steady at 4%, according to FactSet consensus estimates. The US labor market has held its own despite swirling forces — high inflation, an aggressive interest-rate-hiking campaign, pandemic aftershocks and geopolitical uncertainty — that seemed all but certain to trigger a recession. Monthly job gains have frequently come in stronger than expected, and unemployment has held at or below 4% for 30 consecutive months. That said, the job market of today is far different than it was 30 months ago. “The labor market has normalized,” Luke Tilley, Wilmington Trust’s chief economist, told CNN in an interview. But, he cautioned, “the concern would be if it worsened from here.”

Travis Tanner says he first began using ChatGPT less than a year ago for support in his job as an auto mechanic and to communicate with Spanish-speaking coworkers. But these days, he and the artificial intelligence chatbot — which he now refers to as “Lumina” — have very different kinds of conversations, discussing religion, spirituality and the foundation of the universe.