June Jobs Report: US Economy Added Only 57,000 Payrolls, Half of What Was Expected
New Delhi, July 3 -- WASHINGTON - The hotels, restaurants, and summer venues that drive the American warm-weather economy hired 61,000 fewer workers in June than they typically do. That shortfall, measured in the Bureau of Labor Statistics data released Friday, pulled the overall tally to just 57,000 new nonfarm jobs, roughly half the 115,000 that Wall Street analysts had forecast and the weakest monthly print in five months.
The gap matters for more than a single month's accounting. Alongside June's figure, the BLS cut April's initially reported gain by 31,000 to 148,000 and revised May's total down 43,000 to 129,000. The combined revision stripped 74,000 jobs from the prior picture of the labor market, converting two months that read l...
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