Unemployment ticks up

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Marketplace

News, Business

4.5 • 1.4K Ratings

🗓️ 5 July 2024

⏱️ 1 minutes

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Summary

Markets hit new highs; Unemployment rose to 4.1% in June; Fed report emphasizes independence; Air travel complaints rise.

Transcript

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0:00.0	This is the Marketplace Minute. I'm Megan McCarty Carino. Stocks continued to climb Friday.
0:06.0	The S&P and Nasdac extended their record rallies up half a percent and nine tenth percent respectively.
0:13.4	The Dow gained two tenth percent.
0:15.8	Job growth remained steady, but the unemployment rate ticked up to 4.1 percent in June,
0:21.7	according to the Labor Department.
0:23.6	Average hourly wage growth also slowed.
0:26.6	The gradually cooling job market raises the odds the Federal Reserve
0:30.4	will cut interest rates in the near future.
0:33.0	The Central Bank released its twice yearly report on interest rate policy
0:38.0	and used the text to highlight the importance of its independence in setting monetary policy.
0:43.7	Donald Trump has in the past suggested it has political motivations for rate decisions.
0:49.4	And air travel seems to be getting worse.
0:52.0	The Department of Transportation said it received
0:54.0	97,000 consumer complaints last year, an increase of 12% over the previous year.
1:00.0	I'm Megan McCarty Carino with the Marketplace Minute.

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