US adds just 57,000 jobs as hiring slows sharply, unemployment dips to 4.2%
By
Christopher Rugaber
Summary
U.S. employers added only 57,000 jobs in the latest month, less than half the previous month's total, signaling cautious economic outlook. The unemployment rate fell to 4.2% from 4.3%, but largely because many job seekers stopped looking and were no longer counted as unemployed. Inflation remains at a three-year high and consumer confidence is near post-pandemic lows, suggesting ongoing economic uncertainty.
Source
bskyUS adds just 57,000 jobs as hiring slows sharply, unemployment dips to 4.2%apnews.comKey quotes
· 3 pulledU.S. employers pulled back on 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 unemployment rate declined to a low 4.2% from 4.3% in May, though the decline mostly occurred because many people out of work gave up looking and were no longer counted as unemployed.
The figures suggest companies remain wary of the economy's health, with inflation at a three-year high and consumer confidence near post-pandemic lows.
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