HomeVideos

Economists were expecting 113,000 jobs — nearly double the amount reported of 57,000.

Now Playing

Economists were expecting 113,000 jobs — nearly double the amount reported of 57,000.

Transcript

23 segments

0:00

This is breaking news for the June jobs

0:02

report. The numbers just crossing the

0:03

wire. 57,000 jobs were added to the US

0:07

economy in the month of June. That's far

0:09

less than the 113,000

0:11

that economists had forecasted based

0:13

upon Bloomberg estimates. Also, we have

0:16

average hourly earnings for the month of

0:18

June coming in line with estimates at 3

0:21

and a half% and unemployment actually

0:23

coming in a tick lower than what

0:25

economists had forecasted at 4.2%.

0:28

economists had expected 4.3%.

0:31

And so ultimately what we're seeing here

0:33

is less jobs added to the US economy

0:36

during the month of June than expected.

0:38

Also taking a look at the month of May.

0:41

Previously the government have reported

0:42

that 172,000 jobs were added. But now we

0:45

did get some revisions. Now, we now see

0:48

that 129,000

0:50

jobs were added in the month of May

0:52

instead of that robust 172,000.

Interactive Summary

The June jobs report shows a significant shortfall in job growth, with only 57,000 jobs added against an expected 113,000. While unemployment dipped slightly to 4.2%, previous figures for May were revised downward from 172,000 to 129,000.

Suggested questions

2 ready-made prompts