The labor market in the United States turned cold in June, and expectations of interest rate cuts heated up again. Both employment and wage growth slowed down in June, while the unemployment rate rose to its highest level since the end of 2021, providing more support for the Federal Reserve to initiate interest rate cuts in the coming months. The report released by the US Department of Labor on Friday showed that in June, there were 206000 new non-farm jobs, a decrease of 12000 from the revised number in May. In this report, the Ministry of Labor significantly reduced the number of new non-agricultural employment in May from the initial value of 272000 to 218000, and also lowered the number of new non-agricultural employment in April to 108000, a decrease of 57000 from the initial value.