Saturday, September 16, 2023

WRAPUP 1-U.S. job growth seen slowing in June; but far from recession levels

* Nonfarm payrolls forecast to increase by 250,000 in June

* Unemployment rate seen unchanged at 3.6%

* Average hourly earnings expected to rise 0.3%

By Lucia Mutikani

WASHINGTON, June 5 (Reuters) – U.S. job growth likely slowed in June, but the pace was probably strong enough to keep the unemployment rate at 3.6% for a fifth straight month, offering the strongest evidence yet that the economy was not in recession.

The Labor Department’s closely watched employment report on Friday is expected to paint a picture of an economy muddling through despite back-to-back quarters of contraction in gross domestic product, the broadest measure of U.