The Bureau of Labor Statistics' June jobs report revealed U.S. economy created 224,000 jobs and the unemployment rate dropped to 3.7%. However, the report also showed two trends that could cause economic concern. The number of job cuts announced by U.S. employers rose to 49,255 in June, up 18% from the previous month. Meanwhile, the Consumer Price Index, which tracks inflation, rose by 2.1% annually during the same period. The increase in job cuts and inflation could be signs of an economic slowdown, but economists remain optimistic. While job creation is still growing, it appears to be slowing down.
