finance
U.S. Employers Add 57,000 Jobs in June
Nonfarm payrolls rose by 57,000 last month while April and May figures were revised down by a combined 74,000. The unemployment rate fell to 4.2 percent even as labor force participation declined to 61.5 percent.
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U.S. employers added 57,000 jobs in June, the weakest monthly increase since February. April and May payrolls were revised downward by a combined 74,000 jobs. The unemployment rate fell to 4.2 percent from 4.3 percent.
Labor force participation dropped to 61.5 percent, leaving 105.8 million Americans outside the labor force. An additional 2.5 million people have left the labor force since last year. Wage growth reached 3.5 percent year over year.
Leisure and hospitality lost 61,000 jobs. Hours worked remain below pre-pandemic levels. Glassdoor Chief Economist Daniel Zhao said the report put a damper on the fireworks and left the labor market looking more fizzle than sparkle.
Janus Henderson Investors’ Bradford Smith said the softer labor backdrop combined with moderating oil-price inflation likely leaves the Federal Reserve on hold for its next meeting.
Transparency
How sources framed this
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Continued steady growthSlowing momentum
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Steady growthSlowing
CorroborationModerate · 3 sources
