The state of the economy is weighing heavily on voters' minds as the presidential campaign intensifies.
FILE - Assembly line worker Lashunta Harris applies the Ford logo on a 2024 Ford F-150 truck being assembled at the Dearborn Truck Plant, April 11, 2024, in Dearborn, Mich. On Friday, June 5, 2024, the U.S. government issues its June jobs report.
Last month's job growth did mark a pullback from 218,000 in May. But it was still a strong gain, reflecting the resilience of America's consumer-driven economy, which is slowing but still growing steadily. The state of the economy is weighing heavily on voters' minds as the presidential campaign intensifies. Despite consistent hiring, relatively few layoffs and gradually cooling inflation, many Americans have been exasperated by still-high prices and assign blame to President Joe Biden.
Consumer spending, which accounts for about 70% of all U.S. economic activity and which has powered the expansion the past three years, rose at just a 1.5% pace last quarter after growing more than 3% in each of the previous two quarters. In addition, the number of advertised job openings has declined steadily since peaking at a record 12.2 million in March 2022.
Interest Rates Economic Slowdown Inflation Federal Reserve Unemployment Rate Consumer Spending Job Security
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