Lagarde: I'm certain ECB made right choice raising rates in June

Both total nonfarm payroll employment (+57,000) and the unemployment rate (4.2 percent) changed little in June, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in professional and business services, social assistance, and health care. Leisure and hospitality lost jobs. This news release presents statistics from two monthly surveys. The household survey measures labor force status, including unemployment, by demographic characteristics. The establishment survey measures nonfarm employment, hours, and earnings by industry. For more information about the concepts and statistical methodology used in these two surveys, see the Technical Note. U.S. economy added 57,000 jobs in June, less than expected; unemployment rate at 4.2% The U.S. economy saw job creation cool sharply heading into the summer, the Bureau of Labor Statistics reported Thursday. Nonfarm payrolls for June increased by a seasonally adjusted 57,000 for the month, slower than the downwardly revised 129,000 added in May and worse than the 115,000 Dow Jones consensus forecast. The unemployment rate, however, dropped to 4.2%, and slightly ahead of the 4.1% where it was a year ago. The U.S. economy added 57,000 jobs in June and revisions subtracted a combined 74,000 jobs from the previously reported figures for May and April. The unemployment rate edged down to 4.2%. Leisure and hospitality employment declined by 61,000 in June.

Since publication of the last Financial Stability Report in June 2025, economic and financial conditions relevant for the Swiss financial sector have remained challenging, in particular because of the conflict in the Middle East, trade tensions, and the associated geopolitical and macroeconomic uncertainty. Thanks to substantial capital buffers, the Swiss banking sector is well placed to face this challenging environment. Overall, global economic growth was solid going into 2026, but has slowed somewhat since the escalation in the Middle East. Long‑term interest rates have increased against the backdrop of renewed inflationary pressure, due to the recent surge in energy prices, and high public debt in many advanced economies. In Switzerland, by contrast, both inflation and long‑term interest rates have remained at lower levels. In financial markets, the conflict in the Middle East has led to higher volatility, yet the overall reaction has been muted. Global stock prices temporarily declined but remain above the levels at the time of publication of the last Financial Stability Report. Furthermore, global corporate and sovereign credit risk premia temporarily increased to a moderate degree but remain at low levels. Residential real estate prices have Swiss National Bank Warns Current Capital Rules Do Not Adequately Cover Foreign Investment Risks SNB: UBS Capital Levels Adequate Under Proposed Requirements Including Reserves

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