America’s employers pulled back on hiring but still deliverd another month of solid gains in June, adding 209,000 jobs. Retired Ripon College economist Paul Schoofs says its a sign that the economy’s resilience is confounding the Federal Reserve’s drive to slow growth and inflation. The latest evidence of economic strength makes it all but certain that the Fed will resume its interest rate hikes later this month. Meanwhile, the report also showed that wage growth accelerated, with wages now growing faster than year-over-year inflation. The unemployment rate fell from 3.7 percent to 3.6 percent, near a five decade low.
