US economy adds just 57,000 jobs in June; April and May totals revised lower.


The US economy added just 57,000 jobs in June, well below the downwardly revised 129,000 recorded in May and short of forecasts for 110,000, marking the weakest gain in four months.

Wall Street

Source: Sharecast

According to the Bureau of Labor Statistics, hiring continued to trend higher in professional and business services, up by 36,000, while the social assistance and health care sectors added 25,000 and 22,000 jobs, respectively.

Employment in leisure and hospitality fell sharply, down 61,000, reflecting softer‑than‑usual seasonal hiring and likely some impact from the World Cup.

Payrolls showed little or no change across most other major industries, including mining, construction, manufacturing, wholesale and retail trade, transportation and warehousing, information, financial activities and government.

Revisions subtracted 74,000 jobs from the combined April and May totals.

The unemployment rate, on the other hand, fell to 4.2%, down from 4.3% but still slightly ahead of the 4.1% level seen at the same time a year earlier.

Reporting by Iain Gilbert at Sharecast.com

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