U.S. Employers Add 57,000 Jobs in June as Unemployment Dips to 4.2%
7 verified3 unconfirmed
U.S. employers added 57,000 jobs in June, a sharp slowdown from previous months, according to the Labor Department's latest report. The unemployment rate ticked down to 4.2%, but the decline was largely attributed to more than 700,000 people leaving the workforce. Hiring figures for April and May were also revised downward, indicating weaker job growth than initially reported. Sectors such as healthcare and professional services continued to add workers, though at a slower pace, while leisure and hospitality lost 61,000 jobs. Average hourly wages rose 3.5% from a year earlier, but the increase has not kept pace with rising inflation. Federal Reserve Chairman Kevin Warsh has stated the central bank remains committed to controlling prices, even if it means raising interest rates.
What’s verified
U.S. employers added 57,000 jobs in June.
The unemployment rate fell to 4.2%.
More than 700,000 people left the labor force in June.
April and May job gains were revised down, with a total reduction of about 74,000 jobs (Source 1) or specific revisions: May from 172,000 to 129,000 and April from 179,000 to 148,000 (Source 3).
The leisure and hospitality sector lost 61,000 jobs in June.
Average hourly wages increased 3.5% year-over-year.
Federal Reserve Chairman Kevin Warsh said the central bank remains independent and determined to achieve price stability.
Not yet confirmed
Whether the men's World Cup soccer tournament added 40,000 jobs in June, as noted in one source.
How the stock market responded; one source reported the Dow Jones Industrial Average rose nearly 600 points, but other sources did not mention this.
Specific details of Federal Reserve Chairman Kevin Warsh's recent speech at a central bankers' panel in Portugal, mentioned in one source.
Key figures
Kevin Warsh, Chairman of the Federal Reserve.
Daniel Zhao, Chief Economist at Glassdoor (cited in Source 1).
Nicole Bachaud, Labor Economist at ZipRecruiter (cited in Source 2).
Elise Gould, Senior Economist at the Economic Policy Institute (cited in Source 3).
Sources: NPR, stateline.org
