US adds just 57,000 jobs in June, missing expectations as unemployment falls to 4.2%
By
Madison Hoff, Jennifer Sor, Juliana Kaplan, Georgia Hennessy
Summary
The June jobs report from the Bureau of Labor Statistics showed the US economy added only 57,000 jobs, significantly missing economists' expectations. Despite the weak hiring number, the unemployment rate fell to 4.2%. The report signals a potential slowdown in the labor market recovery, raising concerns about the pace of economic growth and potential implications for Federal Reserve policy decisions.
Source
bskyUS adds just 57,000 jobs in June, missing expectations as unemployment falls to 4.2%businessinsider.comKey quotes
· 3 pulledThe labor market is clearly losing momentum faster than anticipated.
This disappointing jobs report will put pressure on the Federal Reserve to reconsider its timeline for tapering.
While the headline number is weak, the drop in the unemployment rate offers a glimmer of hope.
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