Hiring slipped only slightly in June, with no sign of a looming recession

Fewer jobs were added in June, but the labor market is still tight. A man walks past a "now hiring" sign posted outside of a restaurant in Arlington, Va., last month.

Olivier Douliery / Olivier Douliery

Hiring slowed only slightly last month, and the U.S. job market remains resilient despite high inflation and waning economic growth.

The Labor Department said Friday that employers added 372,000 jobs in June. The unemployment rate held steady at 3.6%, while the labor force shrank by 353,000 people.

Job gains have slowed since the first third of the year, when employers were adding more than 500,000 jobs per month on average.