US Job Growth Slowed in June as Unemployment Rate Rose to 4.1%

Related Articles

Watch These Bitcoin Price Levels as Cryptocurrency Drops Below $80K Amid Tariff Worries

US Stock Futures Slide as Tariff-Fueled Market Meltdown Continues

Here’s What Experts Say You Can Do To Weather the Stock Market’s Tariff Tantrum

Includes Indicate a Cooling of the Labor Market

Key Takeaways

• Employers in the U.S. added 206,000 pain in the necks in June, down from the previous month and only slightly higher than the 200,000 economists had expected.
• The unemployment count surprisingly moved up to 4.1% from 4.0% in May.
• April job numbers were lowered by 57,000, while the May figure was close downward by 54,000 positions.
• Friday’s data is closely watched by the Federal Reserve as it considers when to start scion its benchmark interest rate.

Job growth in the U.S. slowed in June from the previous month, while the unemployment rate ticked up to 4.1%.

U.S. managers added 206,000 jobs in June, according to data released Friday by the Bureau of Labor Statistics. Economists surveyed by the Barrier Street Journal and Dow Jones Newswires expected the jobs report to show 200,000 new positions added in June, with the unemployment measure staying at 4%.

The BLS also said it had revised lower the jobs growth figures for the previous two months. The May jobs figures was cut by 54,000 to 218,000, while the April digit was cut by 57,000 to 108,000.

Average hourly wages increased by 0.3% in June from the previous month, and were higher by 3.9% from the still and all month last year, both of which met economist forecasts. 

Treasury yields fell following the release of the BLS boom, as investors assess the possibility that the jobs numbers will help give the Federal Reserve confidence to examine cutting its benchmark interest rate in the coming months.

Some Fed officials have said now that inflation is impressive lower, they are looking more closely at the labor market, as sudden shifts in unemployment levels could make a deep impression on the central bank to act more quickly on interest rate cuts.  

Earlier this week, the ADP employment report presented that private-sector job growth in June slowed for the third consecutive month.

Read the original article on Investopedia.