The jobs market is resilient. Or is it?

Welcome to The Money, where we break down financial news and provide the TL;DR version of how decisions by the Federal Reserve, government and companies impact you.

U.S. employers added 206,000 jobs in June as hiring held steady despite persistent inflation and high interest rates.

But below the surface, there are worrisome signs. Job gains for April and May were revised down by a hefty 111,000 and the private sector added a disappointing 136,000 jobs. The unemployment rate ticked up to 4.1% from 4.0% in May, and average hourly pay rose 10 cents to $35, pushing down the yearly increase to 3.9%, the lowest since June 2021.   

Details of the Friday's jobs report coupled with other recent weak reports are now prompting many economists to forecast the Federal Reserve to cut interest rates in September for the first time since 2020. The CME FedWatch tool puts odds for a September rate cut at nearly 72%.

Don't fear the housing market

Interest rates are high and housing supply is low, making this a tough housing market but one that's not impossible to navigate, experts say.

There are still many ways to maximize a budget if you’re a buyer or ensure you earn top dollar and trim your costs if you’re a seller. Strategies include knowing what fees might be negotiable, what home features to invest in, what kind of lender to look for, what types of mortgages are available and what tax benefits there are to selling and buying another home, experts say.

Strategies include knowing what fees might be negotiable, what home features to invest in, what kind of lender to look for, what types of mortgages are available and what tax benefits there are to selling and buying another home, experts say.

You can still get a 3% mortgage if you find a seller who has a government-backed mortgage that you can assume or push your realtor to get the highest price possible for your home in this market.

Prescription drugs may drain your wallet and your health

Health insurers are covering fewer drugs and putting more restrictions on their drug coverage but are still raising costs for consumers, prescription drug comparison site GoodRx found after reviewing more than 3,700 Medicare Part D plans from 2010 to 2024.

At a time when Americans are already squeezed by inflation that has soared over the past few years, the cost of staying healthy is becoming more prohibitive. The Centers for Disease Control and Prevention said 9.2 million adults reported not taking medications as prescribed because of cost, employing such strategies as skipping doses, taking less than the prescribed dose or delaying filling a prescription.

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