Employers added 57,000 jobs in June, far below forecasts as hiring slowed
Hiring misses forecasts and prior gains are revised down, yet the unemployment rate falls as workers exit the labor force, easing Fed rate hike fears.
- On Thursday, the Bureau of Labor Statistics reported the U.S. economy added 57,000 nonfarm payrolls in June, missing economist expectations of around 115,000 jobs and falling short of market forecasts.
- The unemployment rate fell to 4.2% primarily because about 720,000 people exited the labor force, pushing participation to 61.5%, the lowest level since March 2021.
- Professional and business services added 36,000 positions while healthcare gained 46,600 jobs; manufacturing increased 3,000, though these sectoral gains failed to offset leisure and hospitality's 61,000-job loss.
- Stock markets rallied and Treasury yields fell as traders reduced bets on an immediate Federal Reserve rate hike, with the 2-year Treasury yield dropping more than 5 basis points to 4.108%.
- Fed Chair Kevin Warsh reaffirmed commitment to price stability over near-term employment concerns, while labor economists warn of a persistent "low-hire, low-fire" bottleneck restricting opportunities for new job seekers.
298 Articles
298 Articles
Hawaii Tribune-Herald
The spokesman-ReviewUS job growth slows sharply in June; labor force participation rate at more than 5-year low
WASHINGTON — U.S. job growth slowed sharply in June and payroll gains for the prior two months were revised lower, pointing to a cooling labor market and prompting financial markets to dial back expectations for a near-term interest rate hike from the Federal Reserve. The post US job growth slows sharply in June; labor force participation rate at more than 5-year low appeared first on Hawaii Tribune-Herald.
Yesterday's US labor market data was weaker than market expectations. The economy added 57,000 jobs in June, compared to expectations of 113,000.
US ECONOMY
US employers still reluctant to add many jobs as hiring slows in June - Boston News, Weather, Sports
WASHINGTON (AP) — U.S. employers slowed hiring last month and added only 57,000 jobs, less than half the previous month’s total and a sign companies still have a cautious economic outlook. The Labor Department said Thursday that the unemployment rate declined to a low 4.2% from 4.3% in May, though the drop mostly occurred because many people out of work gave up looking and were no longer counted as unemployed. The figures suggest businesses rema…
Coverage Details
Bias Distribution
- 44% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
