Labor Market

U.S. job creation cooled sharply in June, with payroll gains far below expectations even as the unemployment rate edged lower. The softer report may ease pressure on the Federal Reserve and helped push bitcoin lower after the release.

A new Ramp analysis of more than 21,500 U.S. companies suggests the firms spending the most on AI are also expanding their workforces. The findings challenge the idea that generative AI is already driving broad job losses, though the researchers say the results show correlation rather than causation.