US job creation set to slow as red-hot labour demand levels off

US job creation is expected to have moderated to the slowest pace in more than a year in June in an early sign that red-hot labour demand is beginning to level off.

Analysts at Bloomberg estimate non-farm payrolls grew by 268,000 last month — a still-robust pace, but the smallest gain since April 2021. That follows the 390,000 positions created in May and a 436,000 pick-up in April.

With these gains, the unemployment rate is set to…