Nonfarm payrolls increased by 206,000 for the month, better than the 200,000 Dow Jones forecast though less than the downwardly revised gain of 218,000 in May. The unemployment rate unexpectedly climbed to 4.1%, tied for the highest level since October 2021. Average hourly earnings increased 0.3% for the month and...

U.S. economy added 206,000 jobs in June, unemployment rate rises to 4.1%

Business Times

In a mixed signal for the U.S. economy, the Labor Department reported Friday that nonfarm payrolls increased by 206,000 in June, surpassing the Dow Jones forecast of 200,000 but falling short of May's downwardly revised gain of 218,000. At the same time, the unemployment rate unexpectedly climbed to 4.1%, its highest level since October 2021, complicating the Federal Reserve's decision-making on monetary policy.

U.S. Economy Adds Jobs in June Amid Rising Unemployment Rate: Federal Reserve's Next Move Under Scrutiny

Reuters

WASHINGTON (Reuters) -First-time applications for U.S. unemployment benefits increased last week, while the number of people on jobless rolls rose further to a 2-1/2 year high towards the end of June, consistent with a gradual cooling in the labor market.

US weekly jobless claims rise as labor market gradually slows

Abigail Disney, an heiress to the Disney family fortune, plans to withhold donations to Democrats until Joe Biden drops out. Biden has said he has no plans to withdraw from the race. Gideon Stein said he's decided to pause planned donations of $3.5 million. President Joe Biden is facing an...

Disney heiress, wealthy Democratic donors say they won't finance the party until Joe Biden drops out

Illinois State

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Chicago, IL

Chicago Happenings

Every year, new laws that were passed the prior year go into effect on July 1. In 2024, a number of new laws will begin this Monday. Among them include higher wages for tipped employees, a gas tax increase, and driver's licenses for undocumented immigrants.

New Laws July 1: Driver's Licenses for Undocumented Migrants, Raises for Tipped Workers, and More

As president, Trump called for the elimination of the Education Department's debt relief programs, including the popular Public Service Loan Forgiveness initiative, which benefits public employees such as members of the U.S. Armed Forces, first responders, public defenders, prosecutors and teachers. He also wanted to slash the department's budget, and...

Trump may roll back student loan forgiveness programs if elected to second term

Nestlé's CEO, Mark Schneider, tells CNBC's Silvia Amaro that the group's new line of meals intended for those on GLP-1 medication is a companion range, insisting Nestlé is "not the drug manufacturer."

Nestlé reveals new food line for those on weight-loss medication

Fox Business

U.S. employers continued to hire workers at a solid pace according to the June jobs report even as readings from April and May were revised lower, a sign that could please the Federal Reserve.

U.S. economy adds 206,000 jobs; April, May revised down

(Reuters) -Federal Reserve policymakers got more evidence of labor-market cooling on Friday that could boost their confidence they are winning their fight on inflation, and open the path to a more active debate on interest-rate cuts when they next meet in late July. The Labor Department's monthly report showed the unemployment rate rose in June to 4.1%, and big revisions to prior-month estimates of job creation meant the average monthly payroll gain over the most recent three months downshifted to 177,000.

Fed rate cut debate in view as U.S. job market cools

Ruchir Sharma, chair of Rockefeller International and founder of Breakout Capital, discusses the state of capitalism and regulation.

Increase in regulations helps big businesses do better, Ruchir Sharma says

WASHINGTON (Reuters) - U.S. job growth slowed marginally in June, but a rise in the unemployment rate to more than a 2-1/2-year high of 4.1% and moderation in wage gains pointed to an easing of labor market conditions that keeps the Federal Reserve on track to start cutting interest rates this year.

US job growth slows moderately; unemployment rate rises to 4.1%

CNBC's Eunice Yoon shared the hidden challenges awaiting international travelers to China - including tickets to travel hotspots, taxis, and paying with cash.

Hidden challenges for tourists in China

Oil prices for Brent crude hit their highest level since April on Thursday, holding above $87 after data the previous day showed a decline in U.S. inventories. In the previous session, Brent gained 1.3% to settle at $87.34 for its highest close since April 30. WTI, meanwhile, had settled at an 11-week high of $83.88.

Brent crude trades above $87, sets highest levels since April

The Canadian dollar is showing little movement on Friday. In the North American session, USD/CAD is trading at 1.3618, up 0.05% on the day. Canada and the US released employment data today and surprisingly, the Canadian dollar has showed almost no reaction. Canada’s labor market contracted in June, with a...

USD/CAD steady as job growth falls in Canada, US

With signs building that the labor market is at least slowing if not something worse, the June nonfarm payrolls report takes on added significance. The report, to be released Friday at 8:30 a.m. ET, is expected to show growth of 200,000, down from the 272,000 reported for May. While there...

Friday's jobs report expected to show slowing payroll gains as concern rises about broader economy

Newark, NJ

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Morristown Minute

NEWARK, N.J. – Eight individuals associated with the "793 Bloods" street gang, a subset of the national Bloods gang, have been charged for their roles in a Newark-based drug trafficking organization, U.S. Attorney Philip R. Sellinger announced.

Eight '793 Bloods' Gang Members Charged in Newark Drug Network

The Investment Committee discuss the latest Calls Of The Day.

Calls of the Day: Uber, Adobe, SLB, RTX

Nela Richardson, chief economist at ADP, joins CNBC's 'Squawk Box' to discuss ADP's June payroll report, signals about economic cooling, and more.

Payroll data shows 'concerning' concentrated job gains, says ADP's Nela Richardson

The Philippines' dependency on coal-fired power surged 62% last year, overtaking China, Indonesia and Poland, according to London-based energy think-tank Ember. Last year, the share of electricity generated from coal in the Philippines climbed to 61.9% from 59.1% in 2022, making it the most coal dependent country in Southeast Asia.

Philippines overtakes China and Indonesia to be most dependent on coal-generated power

New York City, NY

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The e-Texan

New York – As Trump anticipates his sentencing on July 11th in the New York hush money case, Florida Judge Aileen Cannon made a ruling this Monday. Despite rejecting Trump’s legal team's request to dismiss several charges in the classified documents case, she conceded on a minor point. She removed a portion of the charges that referenced an uncharged allegation, but upheld the other charges.

Legal expert says Trump should not be jailed after New York guilty verdict because he is ‘too old’

NewsBreak

10-year Treasury yield falls after unemployment rate rises unexpectedly

Treasury yields dropped on Friday as the latest U.S. jobs report showed an unexpected rise in the unemployment rate. Yields and prices move in opposite directions....

10-year Treasury yield falls after unemployment rate rises unexpectedly

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