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Here's what the June jobs report says about inflation and U.S. labor supply

Nonfarm payrolls increased 850,000 for the month of June, compared to the Dow Jones estimate of 706,000. The unemployment rate, however, to 5.9% against the 5.6% expectation. Doug Holtz-Eakin, president of the American Action Forum, Jason Furman, professor at Harvard's Kennedy School and former CEA chairman, and Allison Schrager of the Manhattan Institute joined "Squawk Box" on Friday to give their immediate reactions.
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