Economists were expecting 113,000 jobs — nearly double the amount reported of 57,000.
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This is breaking news for the June jobs
report. The numbers just crossing the
wire. 57,000 jobs were added to the US
economy in the month of June. That's far
less than the 113,000
that economists had forecasted based
upon Bloomberg estimates. Also, we have
average hourly earnings for the month of
June coming in line with estimates at 3
and a half% and unemployment actually
coming in a tick lower than what
economists had forecasted at 4.2%.
economists had expected 4.3%.
And so ultimately what we're seeing here
is less jobs added to the US economy
during the month of June than expected.
Also taking a look at the month of May.
Previously the government have reported
that 172,000 jobs were added. But now we
did get some revisions. Now, we now see
that 129,000
jobs were added in the month of May
instead of that robust 172,000.
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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.
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