The unemployment rate in the United States in June was 4.189%, hitting a new low since June last year

Nick Timiraos pointed out that the US unemployment rate in June was 4.189%, the lowest level since 4.140% in June last year. AI interpretation: The unemployment rate dropping to a new low in a year directly proves the extreme tightness of the US labor market. This strong performance completely shattered concerns about an economic recession and provided solid confidence for the Federal Reserve to maintain its high interest rate policy. The market must revise its overly aggressive expectations of interest rate cuts, as the hot job market directly increases the risk of wage inflation. This data is the strongest footnote to economic resilience, clearly blocking the space for monetary policy to shift towards easing in the short term.