According to the Wall Street Journal, the US Labor Department reported on Friday that the US added 0.206 million jobs last month. The unemployment rate rose to 4.1%. Despite the Federal Reserve keeping interest rates at their highest level in over 20 years, the report shows that the labor market remains resilient. The report shows that US recruitment has slowed down, and the labor market seems to have reached a better balance. The unemployment rate has risen from the decades-low of 3.4% at the beginning of last year. Average hourly wages increased by 3.9% year-on-year in June, the smallest increase since 2021. Federal Reserve officials are no longer so worried about an overheating job market and are expected to lower interest rates later this year as long as inflation does not surge. However, strong job growth does make them feel more patient before they cut rates.