Fresh US jobs figures took pressure off the Federal Reserve to consider an interest-rate cut later this month, likely leaving the central bank on hold at least until the fall.
While employers added more jobs in June than forecast and the unemployment rate ticked lower, growth in private payrolls weakened.
US job growth exceeded expectations in June as an unusual surge in public education employment masked a slowdown in hiring across the rest of the economy. Private payrolls rose the least since October, largely reflecting hiring in health care. The jobless rate declined to 4.1%, indicating employers remain reticent to lay off workers.
A buildup of unsold houses sitting on the market for weeks is becoming a new reality in once-booming housing areas across the Sun Belt. Real estate agents in the South and Southwest say they're seeing more people list homes, giving up on hopes that mortgage rates will drop anytime soon. In Florida, homeowners are fleeing soaring insurance costs, and in Colorado, investors are culling rental properties.
