Employers added 57,000 jobs in June, far below forecasts
Summary
U.S. employers added 57,000 jobs in June, which was much less than expected. The unemployment rate fell slightly to 4.2%, but the slower job growth suggests hiring is losing strength.Key Facts
- Economists predicted 100,000 new jobs in June, but only 57,000 were added.
- The unemployment rate dropped from 4.3% in May to 4.2% in June.
- Job growth in April and May was revised down by a total of 74,000 jobs.
- The professional and business services sector added the most jobs with 36,000 in June.
- Healthcare added 22,000 jobs, less than its average monthly gain of 38,000 over the past year.
- Leisure and hospitality lost 61,000 jobs, partly due to lower-than-expected hiring around the World Cup.
- Experts say the labor market is still strong but note signs of slower hiring and lower consumer confidence.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.