US hiring cools in June, according to US labor data reported by the Bureau of Labor Statistics. Nonfarm payrolls rise by 57,000 for the month, but revisions to the prior two months reduce some of the strength shown in earlier “blockbuster” job reports, according to the release. At the same time, the unemployment rate declines, indicating that employment conditions are mixed rather than uniformly weakening. The combination of slower payroll growth and a lower unemployment rate limits the momentum that had been building in job creation earlier in the year. The Bloomberg report frames the new data as a moderation in the pace of hiring, even though broader labor-market indicators do not point to an outright deterioration. Commentary included in the coverage notes the significance of the slowing hiring trend as policymakers and markets look for signs about the direction of the labor market going forward.
US hiring slows in June as unemployment rate falls, curbing job-market momentum
US hiring cools in June, according to US labor data reported by the Bureau of Labor Statistics. Nonfarm payrolls rise by 57,000 for the month, but revisions to the prior two months reduce some of the...
- US nonfarm payrolls increase by 57,000 in June.
- The unemployment rate falls in the same report.
- Hiring slows sharply in June compared with earlier momentum.
- BLS revisions to the prior two months reduce some of the earlier reported strength.
- The data are released by the Bureau of Labor Statistics.
US hiring slowed sharply in June even as the unemployment rate fell, curbing some of the budding momentum in job growth this year. Nonfarm payrolls increased 57,000 last month after downward revisions to the prior two months took some of the shine off recent blockbuster reports, Bureau of Labor Statistics data Thursday showed. Claudia Sahm, Chief Economist at New Century Advisors, reacts to the report. (Source: Bloomberg)
2 hours agoUS hiring slowed sharply in June even as the unemployment rate fell, curbing some of the budding momentum in job growth this year.
5 hours ago
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