Rep. Loudermilk’s Weekly Newsletter

The U.S. labor market remained solid in June as hiring paced ahead of expectations.

U.S. employers added 372,000 jobs during the month compared with 390,000 in the prior month signaling inflation is having a limited impact on hiring thus far. The unemployment rate held steady at 3.6% for the third month in a row.

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More than 5 million barrels of oil that were part of a historic U.S. emergency reserves release to lower domestic fuel prices were exported to Europe and Asia last month, according to data and sources, even as U.S. gasoline and diesel prices hit record highs.

The export of crude and fuel is blunting the impact of the moves by U.S. President Joe Biden to lower record pump prices. Biden on Saturday renewed a call for gasoline suppliers to cut their prices, drawing criticism from Amazon founder Jeff Bezos. 

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Former Japanese Prime Minister Shinzo Abe has been assassinated in a shooting while giving a speech on a street in Nara in western Japan Friday morning, hospital officials confirmed hours later.

Earlier Friday, Japan’s Prime Minister Fumio Kishida gave an emotional press conference where he said Abe, 67, was in “severe condition” and he hopes he will survive. Abe was taken from the scene of the shooting unconscious and in cardiac arrest with no vital signs, Japanese media outlets Kyodo News and NHK reported.  

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