Employers added 57,000 jobs in June, far below forecasts as hiring slowed
Hiring slowed sharply as leisure and hospitality lost 61,000 jobs and prior months were revised down by a combined 74,000, the Labor Department said.
- U.S. employers added only 57,000 jobs last month, less than half the previous month's total, the Labor Department reported Thursday. The unemployment rate fell to 4.2% as some workers stopped searching for employment.
- June's hiring slowdown follows three months of better-than-expected reports, prompting investors to scale back bets on a Federal Reserve interest-rate increase. Prior job gains in April and May were also revised lower.
- Weekly applications for jobless aid fell last week to 215,000, below the 225,000 forecast by analysts surveyed by FactSet. The four-week moving average of claims declined by 2,500 to 222,000, signaling historically healthy layoff levels.
- The Conference Board reported Tuesday that consumer confidence improved slightly in June as gas prices declined. However, sentiment remains mostly negative by historical standards, reflecting ongoing economic caution.
- Mortgage rates fell this week to their lowest level since mid-May, easing borrowing costs for homebuyers, according to Freddie Mac. U.S. job openings remained resilient at 7.6 million in May despite the hiring slowdown.
331 Articles
331 Articles
Far Worse Than Feared? US Economy Loses 60,000 Hospitality Jobs in Huge Blow to Trump
The US economy added just 57,000 jobs in June, according to the latest employment report, with a shock loss of 61,000 hospitality jobs nationwide that has handed Donald Trump an awkward economic setback months before the World Cup and the America 250 celebrations are meant to turbocharge hiring. Hiring in the US had been expected to remain relatively solid as inflation cooled and major global sporting events loomed. Analysts at FactSet forecast …
Associated Press News
America In Focus: consumers still gloomy about economy; US hiring falls in June
Americans’ attitudes toward the economy improved slightly this month as gas prices declined, but their outlook is still mostly negative by historical standards.
U.S. June job numbers remain steady, Georgia jobs reach 5 million and counting
Throughout Metro Atlanta, “now hiring” signs can be seen at small businesses and large restaurant chains like Starbucks and Chipotle. Photo by Tabius McCoy/The Atlanta Voice The latest national job numbers are out, and June has been steady, if not spectacular. The unemployment rate across the country fell by a tenth of a point in June to 4.2%. The unemployment rate was 4.3 % in May, according to data from the United States Bureau of Labor Statis…
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