The report marked the slowest month of hiring since February, when hiring contracted.

The report marked the slowest month of hiring since February, when hiring contracted.

The U.S. economy added just 57,000 jobs in June, a worrying sign for labor market stability as wage growth tracked below inflation for a third consecutive month.

In June, average hourly earnings increased by 3.5%, which remains far below the most recent inflation reading of 4.2%.

The unemployment rate ticked down to 4.2% from 4.3%. June’s total was the lightest month of hiring since February, when the labor market contracted.

  • ThePowerOfGeek@lemmy.worldEnglish
    3·
    2 hours ago

    And we shouldn’t be surprised if that number is downgraded in a month or two’s time. That’s what’s been happening fairly often recently. The final number will likely end up being < 40,000.

    • CombatWombat@feddit.onlineEnglish
      1·
      4 minutes ago

      Probably a lot less than 40,000:

      The report also included sharp downward revisions for prior months. Hiring in April was cut by 31,000 jobs, and May was revised down by 43,000.