U.S. Jobs Report: June Update
The U.S. economy added just 57,000 jobs in June, coming in well below the 110,000 forecast.
Despite the weaker-than-expected hiring, the unemployment rate edged down to 4.2%, slightly better than projections.
Wages were steady, rising 0.3% month-over-month and 3.5% year-over-year, both in line with expectations.
Overall, hiring momentum is cooling, but the labor market remains relatively stable for now.
The U.S. economy added just 57,000 jobs in June, coming in well below the 110,000 forecast.
Despite the weaker-than-expected hiring, the unemployment rate edged down to 4.2%, slightly better than projections.
Wages were steady, rising 0.3% month-over-month and 3.5% year-over-year, both in line with expectations.
Overall, hiring momentum is cooling, but the labor market remains relatively stable for now.