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Jobs report reflects a ‘steady but cautious’ labor market

  • Total nonfarm payroll employment increased by 139,000 last month with the unemployment rate remaining steady at 4.2%.
  • Employment saw growth in healthcare, social assistance, and leisure and hospitality sectors, while the federal government continued to lose jobs.
  • The job market is described as 'steady but cautious' amid ongoing uncertainty, with employees and employers maintaining a wait-and-see approach.
  • While the number of jobs added was considered decent, there are concerns about the market softening, indicating a potential rise in unemployment if the slowdown continues.

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