Jobs Report Undershoots Expectations In Blow For Trump
Summary
Job growth in the United States slowed significantly in June, with employers adding only 57,000 jobs, which is less than half of what economists expected. The unemployment rate slightly decreased to 4.2 percent, but this change was mostly due to fewer people looking for work, not more hiring.Key Facts
- U.S. employers added 57,000 jobs in June, below the expected 115,000 jobs.
- Job growth in June is less than half of the number added in May.
- The unemployment rate fell from 4.3% in May to 4.2% in June.
- The drop in unemployment was mainly because fewer people were in the labor force.
- Labor market momentum appears to be weakening after years of steady job growth.
- Revisions show that job growth in April and May was weaker than first reported.
- The job figures come from the Bureau of Labor Statistics (BLS).
- Economists use these reports to gauge the health of the U.S. economy and labor market.
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