US job growth slowed in June to a healthy pace, with unemployment rising to 4.1%, increasing the possibilities for the Fed to restrain inflation without causing the economy to slump. Non-farm employment rose by 0.206 million last month, while May's data was revised down significantly, showing an increase of 0.218 million instead of the previously reported 0.272 million. Average hourly earnings increased by 3.9% year-on-year. Wage growth in the range of 3%-3.5% is considered consistent with the Fed's inflation target of 2%. The June non-farm report confirms that the trend of inflation falling back on track after the first quarter's skyrocketing inflation. This may also boost the Fed's confidence in the inflation outlook and push the Fed closer to starting interest rate cuts later this year.