The highly anticipated June jobs report dropped today (literally), and all eyes are on market reaction and the debate about the Fed’s next rate move. The markets had a strong first half year, and Apple’s market cap reaches a whopping $3 trillion. We also include some information for student loan borrowers and potential financial aid recipients in light of the Supreme Court’s recent decisions in this week’s reading list.

Economics

• The jobs report suggests the labor market may be easing a bit, as (only) 209,000 jobs were added in June, the unemployment rate dropped back to 3.6%, but wages increases 0.4% M/M or 4.4% Y/Y—still high. (CNN) For a breakdown and all of the data in detail, see the actual BLS report. 
• According to the May JOLTS report, job openings dropped by half a million to 9.8 million, but are still at historically high levels. (AP)
• Were economists missing something when they predicted we would need higher unemployment to stem inflation? The Atlantic takes a look at a segment of the potential labor force that may have been ignored.
• Is inflation slowing, or maybe less sticky? Investment firms are suggesting inflation may ease in the near future. Goldman Sachs gives its reasoning, and Fisher Investments tells a similar story with charts.
• Mortgage rate jump up again after some strong economic data. (CNBC)

Investing

• Apple reaches a $3 Trillion market cap—the stock equivalent of a GOAT? (Forbes)
• The 2-year and 10-year yields have been inverted since last July (when the shorter term debt yield is higher than the longer-term) and has the spread is not greater than it has been since 1981. (Reuters)
•  The market appears not to be concerned about a recession, as DJIA and the S&P 500 finish the first half of the year in a strong position, and NASDAQ had it’s best half year in four decades. (CNBC)
• Everything that uses chips may again become more expensive as China limits exports or critical component metals. (Reuters)

Paying for College

• What avenues still exist for student loan forgiveness? The NYT contributor Ron Lieber sets the record straight here.
• Does the Supreme Court ruling regarding affirmative action apply to financial aid? It seems that may depend on the state. (Inside Higher Education)

Savings

• Here is the latest survey data on savings in the US. (Statista)

In Other News

• Are you following the Twitter saga?  Here is the newest chapter--"THREADS." (Reuters)

About the Author

Beth Tallman

Beth Tallman entered the working world armed with an MBA in finance and thoroughly enjoyed her first career working in manufacturing and telecommunications, including a stint overseas. She took advantage of an involuntary separation to try teaching high school math, something she had always dreamed of doing. When fate stepped in once again, Beth jumped on the opportunity to combine her passion for numbers, money, and education to develop curriculum and teach personal finance at Oberlin College. Beth now spends her time writing on personal finance and financial education, conducts student workshops, and develops finance curricula and educational content. She is also the Treasurer of Ohio Jump$tart Coalition for Personal Financial Literacy.

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