AFP

US border guards on horseback acted unprofessionally: probe

US border guards on horseback acted in an unprofessional manner toward Haitians trying to enter the country, but did not strike migrants with their reins, an official investigative released Friday found.

Photos of guards seeking to tackle migrants near Del Rio, Texas last year sparked a firestorm of criticism. In one shot, an agent on horseback grabbed a man by his shirt, while another shows him holding a group at bay by twirling his reins.

“A careful review and analysis of videos photos and eyewitness accounts” found “no evidence Border Patrol agents involved in this incident struck any person with their reins, intentionally or otherwise,” Customs and Border Patrol Commissioner Chris Magnus told a news conference, presenting the findings of the probe.

But “several agents engaged in unprofessional or dangerous behavior, including one instance in which an agent used denigrating and offensive language,” he said in a statement.

“Failures to maintain command and control over Horse Patrol Units, lack of appropriate policies and training, and the overall chaotic nature of the situation at Del Rio at the time contributed to the incident,” he said.

Customs and Border Protection said that “discipline has been proposed in the cases of four agents.”

In the immediate aftermath of the September 2021 confrontation, President Joe Biden described the agents’ conduct as “outrageous” and said: “I promise you: those people will pay.”

900 firefighters battle 'mega-fire' in southern France

More than 900 firefighters backed by aircraft were deployed on Friday to battle a massive blaze in France’s southern Gard region that burned 600 hectares (1,500 acres) overnight.

“This fire is far from being done. There are fronts in hard-to-reach areas that we haven’t tackled and that are advancing freely,” said Eric Agrinier, a senior member of the fire service.

“It’s going to be a feat of endurance,” he added later, warning the blaze may not be brought under control until Sunday because of unfavourable weather conditions.

Working into the night after the blaze began late Thursday, firefighters set backfires to protect inhabited areas.

“We burn some parts (of the forest) so when the fire spreads it reaches an already-burned zone and slows down, that makes it easier to stop its advance,” said Jacques Pages, standing in front of a line of flames lighting up the pitch-black forest.

Described by emergency responders as a “mega-fire”, the blaze started near the village of Bordezac and forced evacuations from nearby Besseges and other settlements on Thursday night.

The local prefect’s office said around 100 people had to be put up in holiday homes and restaurants in the area, which is about 90 kilometres (55 miles) north of Montpellier and the Mediterranean coast.

“I’ve been finding rooms for people and all the holiday homes are doing the same,” said Regine Marchand, manager of a restaurant in nearby Aujac, on Thursday night.

“We’ve made them pasta, people left quickly without bringing anything, but they’re keeping their spirits up, there’s a good atmosphere.”

By Friday, people’s homes were no longer in danger, with only a garage and a small hut damaged.

The Gard region fire service said Friday morning that 13 firefighters were slightly injured.

As well as personnel on the ground, two planes have been dumping water since the early morning.

On Thursday, the air deployment had stretched to 12 firefighting planes and two helicopters.

Roads were closed to traffic entering the Besseges area, while hundreds of firefighters remained on the scene, some drawn from neighbouring regions.

– Drought raises risk –

Like large swathes of the country, southeast France has suffered from drought this year, increasing the risk of fires.

During an unseasonable heatwave last month, around 600 hectares were burned in a fire started by shelling on an army artillery training range near the Mediterranean port city Marseille.

Firefighters in that Bouches-du-Rhone region were called out to 35 outbreaks on Thursday, many of them close to inhabited areas.

Four houses were destroyed near southern city Arles and 250 firefighters were called out to a brushfire in Saint-Mitre-les-Remparts.

Although several other fires began in southern France on Thursday, most were put out before nightfall.

The fire service said thousands of hectares of heavily wooded land were under threat, as winds gusting at up to 80 km/h (50 mph) fanned the flames through the dried-out trees.

Wind is “the worst enemy” of firefighters, Lieutenant Colonel Agrinier said.

Biden hits back on abortion, calls Supreme Court 'out of control'

President Joe Biden said Friday that federal legislation offered the fastest route to restoring US abortion rights and urged voters to elect pro-choice legislators in upcoming elections in defiance of an “out of control” Supreme Court.

Under pressure to take a tougher line on defending women’s reproductive rights, Biden signed an executive order aimed at shoring up access to abortion after what he described as the court’s “terrible, extreme” decision to remove the constitutional right to terminate a pregnancy.

But the president, whose room for manoeuvre on the issue is limited, said the most effective response would be made through the ballot box in the November mid-term elections by handing him firm control of the legislature.

“Vote, vote, vote,” he said in an appeal particularly aimed at American women.

“The fastest route to restore Roe is to pass a national law codifying Roe, which I will sign immediately upon its passage at my desk. We cannot wait,” Biden said, referring to the 1973 Roe v Wade ruling that established the right to abortion.

If Republicans were to take control of Congress, he also vowed to veto any effort to pass a federal ban on abortion.

“We cannot allow an out of control Supreme Court working in conjunction with extremist elements of the Republican Party to take away freedoms and our personal autonomy,” he said.

Biden has been criticized from within his own Democratic Party for perceived inaction since the Supreme Court ruling on June 24.

After the ruling, several states have banned or severely restricted abortion and others are expected to follow suit. 

– ‘Not nearly enough’ –

Many Democrats, often speaking anonymously in the press, have complained that Biden and his team have failed to respond adequately to the bombshell judgment by the Supreme Court.

Seeking to recover, Biden on Friday signed an executive order designed to protect women’s sensitive health-related data and “fight digital surveillance related to reproductive health care services.”

Advocacy groups are warning of the risks posed by women’s online data such as their geolocation and apps that monitor their menstrual cycles, which they say could be used to go after women who have had abortions.

Biden’s order also seeks to protect mobile clinics deployed to the borders of states that have banned abortion.

The administration wants to guarantee access to contraception and abortion medication and set up a network of volunteer lawyers to help women on abortion issues, the White House said.

“The executive actions being undertaken are needed first steps, but it’s not nearly enough,” said Women’s March director Rachel O’Leary Carmona in a statement.

“I call on the administration to recognize the true emergency we are in. Get creative. Get caught trying.  Don’t let norms, or decency, or ‘tradition’ stand in your way. Lives are on the line.”

But Biden cannot do much to battle the Supreme Court, or the states hostile to him when he lacks a solid majority in Congress.

So he is calling on Americans to turn out in droves and vote Democrat in the midterm elections.

The goal is to codify the right to abortion as a federal law, which would nullify state decisions to ban the procedure.

Many Democrats fear this drive to get out the vote will flop. Biden is now an unpopular president and Americans’ biggest worry these days is sky-high inflation. 

And beyond the abortion issue some Democrats wonder if Biden, 79, a centrist who shuns headline-grabbing action, has the ability to take on an aggressively conservative American right in an era of acute political tension.

All he has to do is look at press editorials of recent days, including in news outlets seen as sympathetic.

“Is Joe Biden the wrong president at the wrong time?” read a headline Thursday in The Washington Post, while The Atlantic magazine asked “Is Biden a Man out of Time?”

NASA reveals Webb telescope's first cosmic targets

NASA said Friday the first cosmic images from the James Webb Space Telescope will include unprecedented views of distant galaxies, bright nebulae, and a faraway giant gas planet.

The US, European and Canadian space agencies are gearing up for a big reveal on July 12 of early observations by the $10 billion observatory, the successor to Hubble that is set to reveal new insights into the origins of the universe.

“I’m looking very much forward to not having to keep these secrets anymore, that will be a great relief,” Klaus Pontoppidan, an astronomer at the Space Telescope Science Institute (STSI) that oversees Webb, told AFP last week.

An international committee decided the first wave of full-color scientific images would include the Carina Nebula, an enormous cloud of dust and gas 7,600 light years away, as well as the Southern Ring Nebula, which surrounds a dying star 2,000 light years away.

Carina Nebula is famous for its towering pillars that include “Mystic Mountain,” a three-light-year-tall cosmic pinnacle captured in an iconic image by Hubble.

Webb has also carried out a spectroscopy — an analysis of light that reveals detailed information — on a faraway gas giant called WASP-96 b, which was discovered in 2014.

Nearly 1,150 light-years from Earth, WASP-96 b is about half the mass of Jupiter and zips around its star in just 3.4 days.

Next comes Stephan’s Quintet, a compact galaxy 290 million light years away. Four of the five galaxies within the quintet are “locked in a cosmic dance of repeated close encounters,” NASA said.

Finally, and perhaps most enticing of all, Webb has gathered an image using foreground galaxy clusters called SMACS 0723 as a kind of cosmic magnifying glass for the extremely distant and faint galaxies behind it. 

This is known as “gravitational lensing” and uses the mass of foreground galaxies to bend the light of objects behind them, much like a pair of glasses.

Dan Coe, an astronomer at STSI, told AFP on Friday that even in its first images, the telescope had broken scientific ground.

“When I first saw the images… of this deep field of this galaxy cluster lensing, I looked at the images, and I suddenly learned three things about the universe that I didn’t know before,” he said.

“It’s totally blown my mind.”

Webb’s infrared capabilities allow it to see deeper back in time to the Big Bang, which happened 13.8 billion years ago, than any instrument before it.

Because the Universe is expanding, light from the earliest stars shifts from the ultraviolet and visible wavelengths it was emitted in, to longer infrared wavelengths — which Webb is equipped to detect at an unprecedented resolution.

NASA reveals Webb telescope's first cosmic targets

NASA said Friday the first cosmic images from the James Webb Space Telescope will include unprecedented views of distant galaxies, bright nebulae, and a faraway giant gas planet.

The US, European and Canadian space agencies are gearing up for a big reveal on July 12 of early observations by the $10 billion observatory, the successor to Hubble that is set to reveal new insights into the origins of the universe.

“I’m looking very much forward to not having to keep these secrets anymore, that will be a great relief,” Klaus Pontoppidan, an astronomer at the Space Telescope Science Institute (STSI) that oversees Webb, told AFP last week.

An international committee decided the first wave of full-color scientific images would include the Carina Nebula, an enormous cloud of dust and gas 7,600 light years away, as well as the Southern Ring Nebula, which surrounds a dying star 2,000 light years away.

Carina Nebula is famous for its towering pillars that include “Mystic Mountain,” a three-light-year-tall cosmic pinnacle captured in an iconic image by Hubble.

Webb has also carried out a spectroscopy — an analysis of light that reveals detailed information — on a faraway gas giant called WASP-96 b, which was discovered in 2014.

Nearly 1,150 light-years from Earth, WASP-96 b is about half the mass of Jupiter and zips around its star in just 3.4 days.

Next comes Stephan’s Quintet, a compact galaxy 290 million light years away. Four of the five galaxies within the quintet are “locked in a cosmic dance of repeated close encounters,” NASA said.

Finally, and perhaps most enticing of all, Webb has gathered an image using foreground galaxy clusters called SMACS 0723 as a kind of cosmic magnifying glass for the extremely distant and faint galaxies behind it. 

This is known as “gravitational lensing” and uses the mass of foreground galaxies to bend the light of objects behind them, much like a pair of glasses.

Dan Coe, an astronomer at STSI, told AFP on Friday that even in its first images, the telescope had broken scientific ground.

“When I first saw the images… of this deep field of this galaxy cluster lensing, I looked at the images, and I suddenly learned three things about the universe that I didn’t know before,” he said.

“It’s totally blown my mind.”

Webb’s infrared capabilities allow it to see deeper back in time to the Big Bang, which happened 13.8 billion years ago, than any instrument before it.

Because the Universe is expanding, light from the earliest stars shifts from the ultraviolet and visible wavelengths it was emitted in, to longer infrared wavelengths — which Webb is equipped to detect at an unprecedented resolution.

Oldest European human fossil possibly found in Spain

A jawbone fragment discovered in northern Spain last month could be the oldest known fossil of a human ancestor found to date in Europe, Spanish paleontologists said Friday.

The researchers said the fossil found at an archaeological site on June 30 in northern Spain’s Atapuerca mountain range is around 1.4 million years old.

Until now, the oldest hominid fossil found in Europe was a jawbone found at the same site in 2007 which was determined to be 1.2 million years old.

Atapuerca contains one of the richest records of prehistoric human occupation in Europe.

Researchers will now have to “complete” their first estimate for the age of the jawbone fragment using scientific dating techniques, palaeoanthropologist Jose-Maria Bermudez de Castro, the co-director of the Atapuerca research project, said during a news conference.

But since the jawbone fragment was found some two metres below the layer of earth where the jawbone in 2007 was found, “it is logical and reasonable to think it is older,” he added.

The scientific dating of the jawbone fragment will be carried out at the National Centre for Research on Human Evolution in Burgos, a city located about 10 kilometres (six miles) from Atapuerca.

The process should take between six to eight months to complete, Bermudez de Castro said.

The analysis could help identify which hominid species the jawbone fragment belongs to and better understand the human beings evolved on the European continent.

Scientists have so far been unable to determine with certainty which species the jawbone discovered in 2007 belonged to.

The fossil could correspond to the species called Homo antecessor, discovered in the 1990s.

The Atapuerca Foundation which runs the archaeological site said in a statement that is “very likely” that the jawbone fragment “belongs to one of the first populations that colonised Europe”.

The archaeological site of Atapuerca was in 2000 included on UNESCO’s list of world heritage sites, giving it access to United Nations conservation funding.

It contains thousands of hominid fossils and tools including a flint discovered in 2013 that is 1.4 million years old.

Fed's Brainard says recent upheavel shows need for crypto rules

Recent upheaval in the cryptocurrency markets shows the sector is subject to similar risks as conventional investments, underscoring the need for regulation to protect against the “false allure” of a quick profit, Federal Reserve Vice Chair Lael Brainard said Friday.

“The crypto financial system turns out to be susceptible to the same risks that are all too familiar from traditional finance,” Brainard said at a Bank of England conference.

“So this is the right time to ensure that like risks are subject to like regulatory outcomes and like disclosure so as to help investors distinguish between genuine, responsible innovation and the false allure of seemingly easy returns that obscures significant risk.”

The comments come as the slump in bitcoin and other digital currencies continues to reverberate across the industry, denting players in the fledgling financial universe.

This includes a bankruptcy filing by US crypto lender Voyager Digital, the crash of the Terra cyptocurrency, the liquidation of Singapore-based cryptocurrency hedge fund Three Arrows Capital, and moves by crypto lender Celsius to suspend customer redemptions.

Brainard said despite investment losses so far, “the crypto financial system does not yet appear to be so large or so interconnected with the traditional financial system as to pose a systemic risk.”

Her remarks came a day after Fed Governor Christopher Waller also highlighted risks from cryptocurrencies, while saying that the turbulence had not yet threatened major financial institutions.

“That doesn’t mean if it was 10 times bigger wouldn’t have had an impact,” Waller said in a discussion with the National Association for Business Economics.

“It is important that the foundations for sound regulation of the crypto financial system be established now before the crypto ecosystem becomes so large or interconnected that it might pose risks to the stability of the broader financial system.”

Waller said the recent decline in virtual currencies has exposed the falsity of claims that such investments can be a hedge against inflation, or a way to offset other risky assets.

“Crypto-assets have plummeted in value and have proven to be highly correlated with riskier equities and with risk appetite more generally,” Waller said.

Euro closes in on dollar parity, stocks rise

The euro neared parity with the dollar on Friday, as traders bet on the prospect of a eurozone recession caused by soaring inflation.

The haven yen firmed against the dollar following the assassination of Japan’s former prime minister, Shinzo Abe, before falling back.

Wall Street and European equity markets were higher although data showing the US job market is holding up well also raised the chances of further aggressive interest rate hikes to combat inflation.  

There were 372,000 new positions added in the month, the Labor Department reported, far more than economists expected. 

The strong health of the jobs market gives the US Federal Reserve more of a free hand to raise interest rates sharply to combat soaring inflation.

“In our view, today’s payrolls report, which shows only a mild slowing in the labour market, increases the chances of the Fed hiking by 75 basis points at its next meeting on 26-27 July,” said Daniel Vernazza, chief international economist at UniCredit Bank.

Last month, the Fed raised interest rates by an aggressive 75 basis points, or 0.75 percentage points.

Concern by investors that the fast pace of monetary tightening by the Fed will tip the world’s top economy into recession has seen stocks swoon in recent weeks.

While the prospect of higher interest rates usually pushes stocks down, and Wall Street did open lower, equities pushed higher as the morning continued.

That was in part relief by investors that the jobs report shows the economy is holding up better than many feared, said Edward Moya at Oanda trading platform.

“Traders couldn’t remain that bearish over news that the consumer is better-off than what many were fearing,” he said.

The euro on Friday slumped to $1.0072, a fresh 20-year low, before recovering back above $1.01.

“The depreciation in the euro to its lowest level in almost two decades against the dollar this week in large part reflects investors’ view that the ECB will tighten less aggressively than the Fed,” said Jessica Hinds, senior Europe economist at Capital Economics.

In commodities trading on Friday, world oil prices rose following the publication of the US jobs report comforted worries about the health of the world’s top economy, and demand for oil.

The rise comes at the end of yet another volatile week for crude and assets in general as investors fear recession fears aggravated and faded.

Asian stock markets closed higher, boosted by hopes that US President Joe Biden would remove some tariffs from Chinese goods.

Equities won a lift also from reports Beijing was considering a huge stimulus push to the struggling Chinese economy by allowing local governments to raise billions of dollars through bond issuance for infrastructure projects.

– Political upheaval –

Markets are also tracking political unrest in Britain and Japan.

London’s benchmark FTSE 100 index edged 0.1 percent higher — and the pound was mixed — one day after Prime Minister Boris Johnson said he was stepping down later this year following a string of scandals.

In Japan, Abe was assassinated on Friday by a gunman who opened fire at close range as the hugely influential politician delivered a campaign speech ahead of upper house elections. 

The murder of the 67-year-old, who had been Japan’s longest-serving leader, stunned the nation and prompted an international outpouring of grief and condemnation.

The killing “could be negative for markets if the government’s policy, including its stance on monetary easing, is affected, as it was evident that he was pulling the strings behind the scenes in many ways”, noted Masahiro Yamaguchi at SMBC Trust Bank.

“If it becomes possible for (current Prime Minister Fumio) Kishida to carry out policies he wanted to, such as financial tax and regulations on share buy-back, that would be negative for markets.”

– Key figures at around 1530 GMT –

Euro/dollar: UP at 1.0182 from $1.0162 on Thursday

Pound/dollar: UP at $1.2032 from $1.2024 

Euro/pound: UP at 84.62 pence from 84.49 pence

Dollar/yen: UP at 136.11 yen from 136.01 yen

New York – Dow: UP 0.3 percent at 31,489.46 points

EURO STOXX 50: UP 0.5 percent at 3,506.55

London – FTSE 100: UP 0.1 percent at 7,196.24 (close)

Frankfurt – DAX: UP 1.3 percent at 13,105.23 (close)

Paris – CAC 40: UP 0.4 percent at 6,033.13 (close)

Tokyo – Nikkei 225: UP 0.1 percent at 26,517.19 (close)

Hong Kong – Hang Seng Index: UP 0.4 percent at 21,725.78 (close)

Shanghai – Composite: DOWN 0.4 percent at 3,356.08 (close)

Brent North Sea crude: UP 2.3 percent at $107.08 per barrel

West Texas Intermediate: UP 1.9 percent at $104.67 per barrel

US sees big job gains in June, fueling inflation worries

The US economy added far more jobs than expected in June and wages rose, adding fuel to worries about accelerating inflation, but giving President Joe Biden a reason to cheer.

Biden has seen his approval ratings plummet as Americans face the worst inflation surge in more than 40 years, but after the latest data Friday, he underscored the rapid jobs recovery in the wake of the pandemic.

But the closely-watched Labor Department report gave few indications the economy is slowing, which likely cements the central bank’s resolve to continue its aggressive interest rate hikes.

US employers added 372,000 net new jobs last month, nearly 100,000 more than economists forecast, and the unemployment rate held steady at 3.6 percent for the fourth month, the Labor Department reported.

The economy gained 2.74 million jobs in the first half of the year, more than most full years dating back to 2000.

“We have more Americans working today in the private sector then any day under my predecessor. More today than any time in American history … at a time when our critics said the economy was too weak,” Biden said at the White House.

He acknowledged that “Families are facing the cost of living crunch,” but said “today’s economic news confirms the fact that my economic plan is moving this country in a better direction.”

But with firms struggling to fill open positions and many potential workers staying on the sidelines, wages have been pushing higher, which economists fear could provoke a wage-price spiral.

– War on inflation –

The report showed average hourly earnings rose again to secure a 5.1 percent increase over the past 12 months, though that was slightly slower than in May and below the 5.6 percent peak in March.

And the share of adults in the labor force was little changed, but Diane Swonk of Grant Thornton noted that the number of people prevented from looking for work or working less due to the pandemic is rising, which could be holding back an influx of workers.

The data will provide little comfort to the Federal Reserve, which has declared war on inflation and launched a series of interest rate hikes to try to cool demand.

Atlanta Federal Reserve Bank President Raphael Bostic said the strong labor market is a good thing, but he stressed that he is “fully supportive” of another super-sized increase in the benchmark borrowing rate later this month, matching the three-quarter percentage point hike in June.

“We’re starting to see those first signs of slowdown, which is what we need because what we have right now is a great imbalance between supply and demand that’s driving the inflation,” Bostic said on CNBC.

That imbalance will have to come into alignment “if we’re going to get that inflation under control.”

The Fed’s efforts to tamp down price pressures has fueled fears it will push the world’s largest economy into recession.

Fed Chair Jerome Powell has argued that the strong US job market means the economy is well-positioned to withstand the rapid ramp up in borrowing rates, although he and other policymakers acknowledge the process may inflict some pain.

Biden said job growth is likely to slow in coming months following the rapid rebound, but “No country is better positioned than America to bring down inflation, without giving up all of the economic gains we have made over the last 18 months.”

– ‘Fanciful’ recession fears –

Total nonfarm employment remains just slightly below the pre-pandemic level in February 2020, but the private sector has recovered fully and has more jobs than before Covid-19 hit, according to the report.

Big gains in the month came in the health care and leisure and hospitality sectors, while retail rebounded after a big decline in May, the data showed. Manufacturing added 29,000 positions.

“June’s strong job growth, especially in the teeth of high inflation, shows that the expansion remains on solid ground,” said Robert Frick, corporate economist with Navy Federal Credit Union.

Strong consumer demand has anchored the post-pandemic recovery and defied expectations of a slowdown, but economists still believe job creation will start to slow.

Ian Shepherdson of Pantheon Macroeconomics said the recent data “support our view that talk of the economy being in recession right now is fanciful.”

US sees big job gains in June, fueling inflation worries

The US economy added far more jobs than expected in June and wages rose, adding fuel to worries about accelerating inflation, but giving President Joe Biden a reason to cheer.

Biden has seen his approval ratings plummet as Americans face the worst inflation surge in more than 40 years, but after the latest data Friday, he underscored the rapid jobs recovery in the wake of the pandemic.

But the closely-watched Labor Department report gave few indications the economy is slowing, which likely cements the central bank’s resolve to continue its aggressive interest rate hikes.

US employers added 372,000 net new jobs last month, nearly 100,000 more than economists forecast, and the unemployment rate held steady at 3.6 percent for the fourth month, the Labor Department reported.

The economy gained 2.74 million jobs in the first half of the year, more than most full years dating back to 2000.

“We have more Americans working today in the private sector then any day under my predecessor. More today than any time in American history … at a time when our critics said the economy was too weak,” Biden said at the White House.

He acknowledged that “Families are facing the cost of living crunch,” but said “today’s economic news confirms the fact that my economic plan is moving this country in a better direction.”

But with firms struggling to fill open positions and many potential workers staying on the sidelines, wages have been pushing higher, which economists fear could provoke a wage-price spiral.

– War on inflation –

The report showed average hourly earnings rose again to secure a 5.1 percent increase over the past 12 months, though that was slightly slower than in May and below the 5.6 percent peak in March.

And the share of adults in the labor force was little changed, but Diane Swonk of Grant Thornton noted that the number of people prevented from looking for work or working less due to the pandemic is rising, which could be holding back an influx of workers.

The data will provide little comfort to the Federal Reserve, which has declared war on inflation and launched a series of interest rate hikes to try to cool demand.

Atlanta Federal Reserve Bank President Raphael Bostic said the strong labor market is a good thing, but he stressed that he is “fully supportive” of another super-sized increase in the benchmark borrowing rate later this month, matching the three-quarter percentage point hike in June.

“We’re starting to see those first signs of slowdown, which is what we need because what we have right now is a great imbalance between supply and demand that’s driving the inflation,” Bostic said on CNBC.

That imbalance will have to come into alignment “if we’re going to get that inflation under control.”

The Fed’s efforts to tamp down price pressures has fueled fears it will push the world’s largest economy into recession.

Fed Chair Jerome Powell has argued that the strong US job market means the economy is well-positioned to withstand the rapid ramp up in borrowing rates, although he and other policymakers acknowledge the process may inflict some pain.

Biden said job growth is likely to slow in coming months following the rapid rebound, but “No country is better positioned than America to bring down inflation, without giving up all of the economic gains we have made over the last 18 months.”

– ‘Fanciful’ recession fears –

Total nonfarm employment remains just slightly below the pre-pandemic level in February 2020, but the private sector has recovered fully and has more jobs than before Covid-19 hit, according to the report.

Big gains in the month came in the health care and leisure and hospitality sectors, while retail rebounded after a big decline in May, the data showed. Manufacturing added 29,000 positions.

“June’s strong job growth, especially in the teeth of high inflation, shows that the expansion remains on solid ground,” said Robert Frick, corporate economist with Navy Federal Credit Union.

Strong consumer demand has anchored the post-pandemic recovery and defied expectations of a slowdown, but economists still believe job creation will start to slow.

Ian Shepherdson of Pantheon Macroeconomics said the recent data “support our view that talk of the economy being in recession right now is fanciful.”

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